You seem to be adding a lot of intentionality to price swings that seem expected when supply is relatively fixed while demand fluctuates. (Maybe you’re right, but it’s not the simpler explanation.)
I feel like it's "obvious" that it's not particularly in the interests of these companies to increase production in the current environment. Except perhaps in the long term "we don't want to get nationalized" or something, I suppose.
Personally I do not think think that they are dragging their feet extremely intentionally, but I do think they are structurally incentivised to do so.