Those who will physically deliver the crude are short on their contracts at settlement date. Because of their massive production, they just can't sell in a single day. So, those who short the contracts really lose money as price increases.
WTF are you talking about, you have no clue bro, none! Why do HES and XOM own multiple NYMEX seats, for fun? surdo
Yes, I am not an expert but I think producers, if they have to enter the market prior to expiration , get hedged asap( in an other expiration ? ). Producers don't like risk at all.
If you read carefully, you'll see I said oil producer COUNTRIES. Not companies, countries. Companies buy oil from countries, and usually resell it to refineries, or sometimes refine it themselves and sell the products to the distributors/consumers.