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Plus they have to restock the reserve (ie buy oil) afterward.
The dirty little secret with oil is that the industry has been getting kicked in the nuts for the last 5-7 years. Now that money is rolling in two things are happening:
1. Noone involved in the industry has the slightest interest in seeing the price go back down
2. Noone in the industry has the slightest interest in investing the money they waited all this time for in new drilling.
Politicians have convinced the public that fossil fuels are bad, and (comically) that the demand can be significantly reduced.
I hope the stuff goes to $150 a barrel, maybe $10 a gallon at the pump. Then the CEO of Chevron can tell everyone "Sorry, I guess y'all need more electric cars, STFU and suck my balls"
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