Middle East Economic Survey

VOL. XLIX

No 47

20-Nov-2006

oman/OIL PRICES

Oman To Switch Crude Pricing To DME Futures From Retroactive System

Omans Ministry of Oil and Gas announced on 14 November that it had decided to switch pricing of its crude away from the retroactive system and to adopt forward pricing based on the daily settlement price of the Dubai Mercantile Exchanges (DME) Oman Crude Oil Futures Contract, which is due to start trading when the DME is launched. The DME is a joint venture...