Yes their raw profits are high (on the order of 10s of billions of dollars for the big oil producers).
But their costs are extremely high as well. It costs a lot of money to get that stuff out of the ground.
As a result, the profit margins for oil producers are comparable to most other industries in the economy.
When oil prices we high, profit margins were like 8-12%. Compare that to tech companies (Google, Apple, Microsoft, etc.) if you think they are profiting too much.