In a recent interview, ExxonMobil CEO Darren Woods expressed skepticism about President-elect Donald Trump’s ability to significantly boost U.S. energy production in the near term. Woods highlighted that U.S. crude oil production had already reached record levels, averaging 13.4 million barrels per day (bpd) as of August 2024. There are multiple factors that might hinder further boost in production. The global demand is the most important element as the world is expected to be oversupplied with oil. Secondly, pipeline capacity is another technical reality that cannot be ignored. Lastly, the refineries need an overhaul too as most were built to refine heavier grades as compared to the lighter grade that has witnessed a record increase in production.