HOUSTON - Any oil and gas company that can increase supply should do so quickly due to the growing energy crisis following Russia's invasion of Ukraine, US Energy Secretary Jennifer Granholm said on Wednesday .
"In this moment of crisis we need more supply," Granholm told attendees at the CERAWeek energy conference in Houston."Right now we need oil and gas production to rise to meet current demand." OPEC and its allies has been slowly restoring 5.8 million barrels per day of crude supply cuts due to the pandemic at a rate of 400,000 bpd every month, but has so far resisted calls to raise that output, citing limited spare capacity.
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