Abu Dhabi Proposes New Oil Pricing System To Mirror Wider Market
E
Economic TimesVerified Publisher
Abu Dhabi National Oil Co. is proposing a shift in how it prices crude for term customers, aligning with regional trading norms. The company is considering setting official selling prices for Upper Zakum, Das, and Umm Lulu grades based on a differential to the Dubai benchmark, a move that could simplify comparisons with other regional crudes and support increased production following the UAE's exit from OPEC. Adnoc has been among the most successful Persian Gulf producers when it comes to shipping crude through the Strait of Hormuz over the past
. The company is considering setting official selling prices for Upper Zakum, Das, and Umm Lulu grades based on a differential to the Dubai benchmark, a move that could simplify comparisons with other regional crudes and support increased production following the UAE's exit from OPEC.
Adnoc has been among the most successful Persian Gulf producers when it comes to shipping crude through the Strait of Hormuz over the past months of war.
(Catch all the Business News, Breaking News and Latest News Updates on The Economic Times.)
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