You want the non political answer?
What happened was we had to idle thousands of wells. You remember when oil futures actually went to a negative price where they would pay you to take their oil for awhile? Oil wells that are in production can not be "capped" off without seriously damaging their pumping capacity. So we had to keep "milking" the well gently and oil went down in price and was way below break even for pumping it out if the ground. Now we are behind on re activating the wells and oil is getting more scarce so oil prices are going up.