What is ADNOC changing its oil pricing benchmark to, and when does the change take effect?

ADNOC is changing the benchmark for its monthly official selling prices (OSPs) for all its crude grades from Murban crude futures to prompt-month Platts Dubai pricing, effective November 1.

Which crude grades are affected by ADNOC's new pricing mechanism, and how will differentials be communicated?

The change applies to all Abu Dhabi onshore and offshore crude grades, including Murban, Das, Umm Lulu, and Upper Zakum; ADNOC will announce differentials to Dubai quotes for these grades in the month before cargoes load.

ADNOC to Change Oil Pricing Benchmark to Platts Dubai from Murban Futures

Jul 31, 2026

Abu Dhabi National Oil Co will switch its crude oil official selling price benchmark from Murban futures to Platts Dubai pricing effective November 1. The decision aligns prices with loading months amid recent geopolitical disruptions affecting Middle East oil exports.

reuters

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