All I know US has increased output and yet Gasoline prices have not move much in the Country.
Thank your government for that one....BIG TIME. Look at the taxes they levy on the product. Look how they prevent additional refining capacity from being built. They ARE the problem.
It would not matter if we found enough oil to float this country. The price for oil is determined by the commodities traders on wall street. The oil companies have nothing to do with what they get for their oil.