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4w ago

ADNOC Switches Abu Dhabi Crude Pricing to Prompt-Month Platts Dubai

The company says the change will align official selling prices with cargo loading months to give refiners nearer-term price visibility and cut basis risk.

abu dhabi skyline on a sunny cloudless day
Adnoc continues to see strong demand for its crude grades and remains focused on providing energy supplies to customers around the world. Chris Whiteoak / The National

Overview

  • ADNOC announced on Friday that it will move its official selling prices to a prompt-month Platts Dubai assessment plus an ADNOC‑announced differential effective November 1, 2026.
  • The change covers all four Abu Dhabi grades — Murban, Das, Umm Lulu and Upper Zakum — so each will be priced in the month of loading rather than two months ahead.
  • ADNOC said Murban futures on ICE Futures Abu Dhabi will continue to trade but will no longer be used to set the company’s official selling prices.
  • The company also stated the shift will not materially affect its listed GMTN or sukuk instruments and that it will continue to meet delivery obligations for its crude grades.
  • The move follows the UAE’s exit from OPEC in May and reflects a push to match refiners’ hedging needs and reduce price mismatches, a change industry observers say could reshape regional benchmark use.