ADNOC is changing the pricing formula used for its flagship crude grades. The oil giant said Friday it will move away from its ICE Futures Abu Dhabi-based pricing methodology, which prices crude off the Murban futures contract two months ahead of loading, and switch to a prompt-month system built around the Platts Dubai benchmark. The change takes effect Nov. 1 and covers all four of ADNOC’s Abu Dhabi grades: Murban, Das, Umm Lulu and Upper Zakum. Under the new formula, ADNOC will set official selling prices using the Platts Dubai assessment…
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