Who creates oil futures?

Who creates futures such as CL.AUG20 (August WTI Crude Oil contract) sold on NYMEX which can be bought via eToro?

I understand that when a company wants to go public, they sell these stocks on an exchange such as NYMEX or other to which brokers connect to and people like me buy those stocks via the broker. The company wants to go public so they ‘create’ the shares and give them to the exchange who in turn sells to brokers.

But who creates oil futures such as the one I mentioned above? I understand they are backed by oil and that their price comes from a formula which takes into account the spot price of oil, carry and storage costs, and other stuff such as dividends that you would get if you owned say an oil index fund instead (I believe this is called fair value). Is this correct?

I understand how a company that needs oil would enter into a future contract with a company that sells oil to secure its right to buy at a specific date and price. I assume that when companies do this that they are doing it by meeting and signing some form of real paper contract rather than doing it on an exchange. If that is the case then does that means that such actions taken by companies don’t have any effect on the oil futures we see on an exchange?

But who creates these oil futures that everyone with a broker account can buy? Do oil companies create those futures and sell them in a similar way a company would sell its stock? Or are they some kind of instrument created by exchanges and not by companies? How does it work?