Then, why are we still importing oil?
Cuz we use more than we produce.
Because oil is a fungible commodity and, depending on market conditions, a portion will always be imported and a portion will always be exported.
The oil producers will sell to whoever offers them the best price.
The refiners will buy from whoever offers them the best price.
Sometimes that domestically, sometimes its not. It's called arbitrage.
The US also exports oil, and refined products.
net-net the US is an oil exporter, not an importer.
The US is a big country. In some cases it makes sense to import oil because it is locally more convenient. For instance oil from Canada. Also in some cases the US is better equipped to refine a given type of oil than some other countries and so can get it a bit cheaper - the case with Venezuelan heavy oil.
And why is it $100/barrel?
The USA has the ability to refine heavy crude more efficiently than most countries.
Go to eia.gov to see our import numbers and how many millions of barrels per day (BPD) we export of refined products and crude.
Because Trump is no longer in office. And, oil and gas isn't like turning on a light switch. All those exploration, drilling, and support contractors who went bankrupt when the Biden regime pulled the plug are no longer there. You can't just "turn it back on." It will take years to restart the industry to the level it was before Biden took over. My East Texas county was peppered with oil and gas contractors. They are just empty buildings and equipment yards today.
Could it be that we are exporting most of what is drilled/fracked? Nah, the Democratic/Communists wouldn't be so sly.
We import heavy crude oil and export diesel and other petroleum distillates. This is good for our trade surplus.
Our refineries can process more oil than we have here.
So, the refineries buy oil at $75/barrel.
They refine it into something and sell it back to someone else for $250/barrel.