
Oil’s supply puzzle: why more drilling isn’t an instant fix
Despite high prices, expanding oil output is slow and complex: long project lead times, capital costs, storage and refining bottlenecks, and potential US shale declines mean that simply drilling more won’t quickly ease the global shock; investors are eyeing diversification beyond the Middle East, notably in Latin America where Brazil, Guyana, and Argentina could add supply, while Venezuela’s revival remains a possibility. With demand shifts and price uncertainty, the fix is likely a gradual, long‑term shift rather than an immediate spike in supply.












