Will oil/economic experts posting A's explain Y every1 is spot &longterm contracts are a thing ofthe past?

This is the fully-worded Q which didn't fit the Q-box: Will the oil &/or economic experts here posting A's on the topic please explain WHY everyone is spot & long-term contracts for all commodities are a thing of the past? And please tell us how exactly you know this? Was it from an economic textbook ,a business school case you studied or was/is it real world job experience refining or trading oil with OPEC?