ADNOC Makes One of the Biggest Changes to Middle East Crude Pricing in Years

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Abu Dhabi National Oil Company (ADNOC) announced a major revision to Middle Eastern crude pricing, shifting all Abu Dhabi crude grades to a prompt-month pricing model based on the Platts Dubai benchmark starting November 1, 2026. This change moves away from pricing via ICE Futures Abu Dhabi two months in advance.

The Abu Dhabi National Oil Company (ADNOC) is making one of the most significant changes to Middle Eastern crude pricing in years, announcing that all of its Abu Dhabi crude grades will move to a prompt-month pricing methodology based on the Platts Dubai benchmark from November 1, 2026. The move marks a notable evolution in the company's pricing strategy. Rather than pricing cargoes two months ahead using ICE Futures Abu Dhabi (IFAD) Murban futures, ADNOC will now price Murban, Das, Upper Zakum and Umm Lulu against prompt-month Platts Dubai, with…