Saudi Aramco to change Asia crude oil price formula: report

04/07/2018 Argaam

 

Saudi Aramco, the world's largest oil producer, on Wednesday announced that it is adjusting its Asia crude oil pricing marker in order to increase the overall reliability of its crude oil pricing.

 

Aramco’s long-standing price marker was the average of Platts Dubai and Platts Oman assessments. 

 

The new Asia marker will replace Platts Oman with Dubai Mercantile Exchange (DME) Oman effective Oct. 1, 2018, creating a hybrid between two major Asia benchmarks, the oil giant said in a statement. 

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