Dubai Energy welcomes Bapco’s decision to use Oman’s futures contract to price crude oil

2018\10\28\Media In  Agencies.
The Dubai Mercantile Exchange (DME) has approved the decision of the Bahrain Petroleum Company (Bapco) to approve Oman’s futures contract in pricing its Asian crude oil exports.
The Bahrain / Bapco / Oil Company has notified its customers to change the process of crude oil pricing mechanism destined to Asia, which entered into force for shipments that are loaded during the month.

It is noteworthy that Bapco is the fourth National Oil Company, which relies on DME Oman pricing of crude oil mechanism as this indicator is currently used by Saudi Arabia, Oman and the Emirate of Dubai.