Because of this OIL/VXX may start trading significantly above their asset based IV price. Likely will become very difficult to short these products & without shares to short Authorized Participants can’t do arbitrage operations they typical run to drive price down to IV Price. https://t.co/1lacpxhnVf

— Vance Harwood (@6_Figure_Invest) March 14, 2022

From BusinessWire:

Barclays Suspends Until Further Notice Further Sales and Issuances of Two Series of iPath^® ETNs (the “ETNs”)

March 14, 2022 09:13 AM Eastern Daylight Time

NEW YORK–(BUSINESS WIRE)–Barclays Bank PLC (“ Barclays”) announced today that it has suspended, until further notice, any further sales from inventory and any further issuances of each of the iPath ^® Pure Beta Crude Oil ETNs due April 18, 2041 (Ticker: OIL; Exchange: NYSE Arca) and the iPath ^® Series B S&P 500 ^® VIX Short-Term Futures ^TM ETNs due January 23, 2048 (Ticker: VXX; Exchange: CBOE BZX Exchange), in each case effective as of the open of trading on Monday, March 14, 2022. This suspension may cause fluctuations in the trading value of such ETNs. Daily redemptions at the option of holders of the ETNs will not be affected by this suspension.

This suspension is being imposed because Barclays does not currently have sufficient issuance capacity to support further sales from inventory and any further issuances of the ETNs. These actions are not the result of the crisis in Ukraine or any issue with the market dynamics in the underlying index components. Barclays expects to reopen sales and issuances of the ETNs as soon as it can accommodate additional capacity for future issuances.