US production is on the rise again, slowly, it's not a simple matter of turning a dial of course. This 50 million barrels is about 2.5 days of US usage, and oil prices were up 3% or so yesterday (the news had been anticipated). I see it as optics, not something that will actually influence oil prices materially. Neither would have a go ahead on some oil pipeline from Canada.
The truth often is in the middle.