Middle East Economic Survey

VOL. L

No 23

4-June-2007

UAE/OIL PRICES

Dubai To Price Crude Exports Using DME Futures Prices From 1 June Opening

The Dubai Mercantile Exchange (DME) announced on 30 May that the government of Dubai would cease pricing export crude oil sales using its current mechanism, and instead use DME futures pricing. DME launched trading of its Oman Crude Oil Futures contract on 1 June, after ICE opened electronic trading of a rival Middle East Sour Crude futures contract on 21 May...