The U.S. should produce more oil amid the global energy crisis, JPMorgan CEO Jamie Dimon said.

"Obviously, America needs to play a real leadership role — America is the swing producer, not Saudi Arabia," Dimon told CNBC. "And we should have gotten that right starting in March. It's almost too late to get it right because obviously, this is a longer-term investment."

According to the Energy Information Administration, the U.S. is the world's largest oil producer, producing 18.9 million barrels of fuel per day. But the U.S. is also the world's largest consumer of oil, so exports are limited.

By comparison, de facto OPEC leader and major exporter Saudi Arabia produces 10.8 million barrels of oil a day, but consumes only 3.2 million barrels a day and exports the rest, EIA reported.

While the U.S. has huge energy reserves, the industry's exports are peaking and cannot be increased overnight, U.S. shale producers told the Financial Times.

Dimon's comments came days after OPEC and its allies agreed to cut oil production. The White House said U.S. President Joe Biden

Dimon told C that there is a longer-term concern that the world is not producing enough oil and gas to cut coal use and switch to renewable energy sources. Calling the issue "critical," he noted that "this should be treated almost as a matter of war at this point, nothing short of that."