Oman eyes link to DME sour crude

The Omani Ministry of Oil and Gas has announced that Omani crude, a key Middle East price benchmark, could soon be linked to Dubai Mercantile Exchange prices. The DME sour crude futures contract, due to be launched in the fourth quarter of this year, could therefore, usher in a new era in regional pricing. At present, Oman sets its official selling price (OSP) based on Platts prices. Initially it will use DME pricing as an additional source of price discovery, but may switch gradually to DME

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