Dubia-Mubasher: The official price of Dubai crude oil for April delivery will be $0.20 less than the average daily settlement price of the Oman crude oil futures contracts in Dubai Mercantile Exchange (DME) traded in February, said the Department of Oil Affairs in Dubai.
The department determines Dubai crude oil prices in parallel with Oman oil prices, which reinforces the transparency of pricing process commitment and setting a fair value of crude oil in the Middle East, the department’s Director-General Abdullah Abdul Karim told Emirates News Agency (WAM).
The monthly price of Dubai crude oil is determined in advance as a differential price is placed three months prior (M-3), while the official final monthly price is determined at the end of the second month (M-2).
