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What happens if oil futures don't sell when they expire?
There is no oil futures listed in China at present.

So at present, all the oil futures made by investors come from foreign exchange.

According to the relevant rules of futures, futures is just a contract, which is binding on both buyers and sellers.

If the contract expires and the investor fails to close the position,

Then investors have to increase capital to buy back oil.

If not, the investor will be sentenced to breach of contract and fined 30% of the value of the goods.