US oil production. It had steadily declined since Carter and began to jump during Obama, in fact about doubling during his presidency. Up another just shy of 20% during T**** until it plummeted back to Obama levels during Covid. It has been in a near steady incline again since T****. Where is your problem? To say the oil companies don't own the oil that they produce is absurd. Who do you think is selling oil to those buyers? It is far ans away the most manipulated price item on the exchange.
Why should they? That's just plain silly. Most universities are not for profit institutions. Oil producers most definitely are.