Currently, speculators make up roughly 2/3rds of the outstanding WTI contracts [1]. In most commodities contracts taking/making physical delivery by physical p

Currently, speculators make up roughly 2/3rds of the outstanding WTI contracts [1]. In most commodities contracts taking/making physical delivery by physical players is rare. The physical delivery option is there to make sure that the underlying commodity market and the futures market converge; and you don't need someone to actually deliver to make that happen. The threat of delivery/taking delivery is usually enough. [1]You can get that info from the CFTC here: https://www.cftc.gov/MarketReports/CommitmentsofTraders/index.htm https://www.cftc.gov/MarketReports/CommitmentsofTraders/inde..., namely in this report: https://www.cftc.gov/dea/options/deanymelof.htm https://www.cftc.gov/dea/options/deanymelof.htm . Look for "CRUDE OIL, LIGHT SWEET".