What I find surprising is how many posters here seem to think this "must be true". If that is the case why do we have oil wells drying up? Why are they not constantly being replentished? Maybe they are but they cannot match the rate at which they are being pumped. Either way, this seems dead wrong.
As silly as it sounds, some of these folks don't think any oil wells are drying up.
There is a tiny handful of oil wells (one in the Gulf of Mexico in particular) where a well appeared to have been "refilled"...which can be explained by migration of normally formed biogenic oil from another location.
However that was seized upon and exaggerated into "Oil wells all over the world are refilling and nobody knows why!" in support of abiogenic oil theories, and repeated ad nauseam.
Then you'll see experienced oil workers and oil geologists pop in and mention they've seen many, many wells and fields play out and not refill, and they're ignored, of course.