Oman adopts DME pricing

Oman will price its crude oil exports on the settlement price of the Dubai Mercantile Exchange (DME), in a move that could have far-reaching implications for crude oil trading in Asia.

The decision of Oman's ministry of oil and gas (MOG) to adopt forward pricing of its crude oil based on the daily settlement price of the DME's Oman crude oil futures contract is evidence of Oman's continuing support for price transparency, the DME said in a statement. Up to now, Oman has priced its crude

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