Oil, Oil, Who Wants Some Oil? Part 3: Anticipating the Future and Financializing Oil

by Mette M. High and Sean Field

When the COVID-19 pandemic struck, demand for crude oil fell suddenly. The pandemic exposed the logistics and storage constraints of the US landlocked oil infrastructure that was oversupplied by domestic and imported crude. But it also raised fundamental questions about the role and importance of financial trading on the futures market.

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