Incoming: Fox Panel where three fake blond women talk about how they have been to Panama, Greenland and Canada and the people there were really rude and hate Americans even though every school there looked like it was built by America and the guy at the hotel reception said he is so sorry he loves America and please have America come and take it because they really suffer and America is the greatest.
Oil (EDIT: in the ground) is stored under a lot of pressure, oil wells cannot be shut off and restarted easily, some might never start again when being shut off, building refineries and pipelines takes years and storing large swaths of crude above ground is incredibly inefficient.
In the end you need a good processing and logistics to get the stuff on the market constantly.