We produce more light sweet crude from our oil fields while our refineries are set up to handle more heavy stuff from place like Mexico and Canada. Anyway I believe the bigger issue is refining not raw oil production? Why don’t you mention that? Or do you just care about how much black stuff we pull out of the ground?
The state of things is the US dollar is still king. We export our inflation because the US dollar is the world reserve currency. Yes there are other states that would be interested in de-dollarizing, but what’s the alternative? Flying planes of gold around the world like Russia?
This unlikely to change in the near future, because there are few other currencies large enough to fill the role and there are exactly zero other countries with anywhere near the military power to maintain reserve currency status.