Media ININ Economy We Trust
MEDIA IN, Dubai, July 5, 2018 (WAM)
The Dubai Mercantile Exchange (DME) has welcomed the recent decision by Saudi Aramco to adopt the Oman Crude Oil Futures Contract from the Dubai Mercantile Exchange (DME) to price crude oil from Saudi Arabia to Asian markets. The move is a clear confirmation by the world’s largest crude exporter of the importance of the contract To explore oil prices in a fair and transparent manner that reflects the reality of the economic climate in Asia and the Middle East. Ahmed Sharaf, Chairman of the Board of Directors of the Bourse, praised Saudi Aramco’s historic move and the confidence it placed in Amman’s future contract. He pointed out that since the start of the stock exchange, the objective has been to provide a trading platform that adopts the highest standards of transparency and adherence to international trading rules and regulations in order to build a real price index for crude oil in the region and Saudi Aramco’s decision today is a significant turning point in the history of oil pricing in the Arabian Gulf.
