BUSINESSFINANCIAL TIMES WORLD
Abu Dhabi abandons bid to build global oil benchmark
Abu Dhabi has abandoned its attempt to establish a global oil benchmark, with Adnoc reverting to pricing its crude against the Dubai benchmark. This decision follows issues with Murban futures exposed during the Iran war.
Related Signal
Adjacent reporting
- Oil’s Hormuz Alternatives Offer Only a Partial Fix
- UAE exit signals OPEC’s declining grip on oil markets
- UAE Tweaks Offshore Oil Pricing to Support Non-Hormuz Options
- Adnoc plans new UAE pipeline to bypass Strait of Hormuz
- UAE quits OPEC as oil cartel takes blow during war on Iran
- Abu Dhabi Proposes New Offshore-Oil Pricing