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If you only have the Oil extractor, you'll need to find an Oil node, not an Oil Well. IIRC, the resource well extractor is on tier 7 so if you are on tier 5 of Oil processing. You'll have to unlock the next phase before you can extract the oil from Oil Well.
Oil Wells are a cracked rock structure, with several small satellite nodes radiating out from a central point. For these you use a Resource Well Pressuriser.
There are also Water and Nitrogen wells, which work the same way.