Your understanding is based on the normal relationship between supply and demand in a perfectly competitive market. But the reality is that resources are in the hands of a few people and the market is controlled by them. Wall Street was the driving force behind the oil in the 2008 economic crisis. They control the Baltic index (freight index, that is, transportation cost) that determines the futures price of crude oil, so as to achieve the purpose of operating oil prices and reap huge profits. They are called international financial speculators (Lang Xiangping said there was an introduction). Remember, in a market with asymmetric resources, capital and information, the most important reason that affects prices is not the relationship between supply and demand.