can someone explain oil futures how it works ..who bids ?just opec?...?

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POWERBOX

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....how long before we see the futures price in the real world at the pump..im just curious ..if some of you intellectual juggernauts..could explain it to me....so i can have a reasonable conversation about it....and understand the mechanism that drives it..thanks....i appreciate it....peace..to all of you.....
 
. Why would OPEC 'bid' on oil? They SELL it!
I suppose anybody who Uses oil would bid on the futures so they know what they'll be paying 3-4 months down the line.
I can't imagine anybody wanting to talk about it tho. Relax.
 
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