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UAE to revamp crude pricing amid sharp market fluctuations
Abu Dhabi National Oil will alter its crude oil pricing methods starting November first. All Adnoc crudes will now use a regional Dubai benchmark published by Platts. This change aligns the UAE with other regional oil producers like Saudi Arabia. Asian oil refiners, who are major buyers, will find this adjustment significant. The shift follows recent volatility in regional oil market benchmarks.
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oilprice.com
ADNOC Unveils New Crude Pricing Mechanism | OilPrice.com
ADNOC will price Murban, Das, Umm Lulu and Upper Zakum off the Platts Dubai benchmark starting Nov. 1, dropping its Murban futures-based system.
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ADNOC Makes One of the Biggest Changes to Middle East Crude Pricing in Years | OilPrice.com
ADNOC will shift all Abu Dhabi crude grades to prompt-month Platts Dubai pricing from November, improving price discovery and aligning crude pricing with refinery hedging
