Current production quotas were established at the height of US production.
That maintained prices at a level (pre-COVID) where all producers could do so at a profit. Too much surplus capacity, and prices drop (for the short term) and production from stripper wells will be lost as those are plugged and abandoned (which is the effect COVID had on the industry).
While, individually, stripper wells only produce 20 barrels per day or less, in aggregate, they accounted for up to 15% of US daily oil production. Many of those wells were plugged and abandoned during the COVID price crash, and will remain uneconomical to drill back out an putt on line. While production can be suspended, that is time sensitive, and, depending on the laws of the State the well is in, requires some action, either production or plugging after that time expires.
It is that 15% the industry here at home is trying to replace with newer, more productive wells.
Ramping up foreign production will only mean that when things reach equilibrium again, US production may fall short of self-sufficiency.
This is one of the more diabolical aspects of Biden going around the world hat in hand begging for more oil rather than releasing the artificial constraints he has placed on the domestic oil industry.
