OilFut is the abbreviation of Oil fut and the abbreviation of "Oil Future" in English. It is a standardized contract made by the exchange, which stipulates to deliver a certain amount and quality of oil at a specific time and place in the future. It is a trading variety in futures trading. Or it can be simply understood as commodity futures with forward oil prices as the target. Crude oil futures are the most important oil futures. There are four important crude oil futures contracts in the world: the New York Mercantile Exchange light and low sulfur crude oil, namely "West Texas Intermediate" futures contract, fuel oil, gasoline and light diesel oil. NYMEX West Texas Intermediate crude oil futures contract specifications are per lot 1 1,000 barrels, and the quotation unit is USD/barrel. After its launch, this contract is the most successful commodity futures contract in history, and its transaction price has become the focus of international oil market.