So speculators and hedge-funds, not exactly discouraged by the oil companies themselves, have overvalued oil futures to their own benefit. Real supply is probably either peak or past-peak, and China's demand (and ours, of course) is only accelerating. Since oil companies have profiteered handsomely this entire time, once future specs do correct themselves and drop (assuming they do, which is no guarantee, given demand and supply issues), they're not going to let their own valuations be adversely affected. They'll find other modes of price support if they have to.
Trickle-down enthusiasts informed us, usually as condescendingly as possible, that if the people at the top made money, the people at the bottom would also make money. What they never want to admit is that not only is the profit-taking never commensurate with labor input, thus enhancing income disparity, but that since it's their casino, they also make money even when (frequently because) we don't.
The house always wins.