DUBAI -DME Start public Consultations On the Addition of Murban crude oil

22-04-2019 Media in\ Dubai
Dubai Mercantile Exchange (DME), today announced the start of public consultations to add Abu dhabi Murban crude oil as an alternative delivery crude into its flagship  DME Oman crude oil Futures contract, after receiving preliminary regulatory approval.
With an estimated production capacity of 1.7 million barrels per day, 40% of which will be freely traded, the Murban crude will be delivered through the bourse in certain market situations, as an exclusive option for the seller.
This step adds about 700,000 barrels per day to the Dubai Mercantile Exchange (DME) delivery mechanism and will further enhance the transparency of the pricing standard and explore the fair market value of oil based on the Oman riyal