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Markets

Average Dubai crude oil price rises to 13-month high in Feb

  • Saudi Aramco changed the benchmark for setting its official selling prices to Asia starting from October 2018 to the average of Platts Dubai and DME Oman crude futures.
Published March 1, 2021

SINGAPORE: Middle East crude benchmark Dubai, as quoted by price-reporting agency S&P Global Platts, rose in February to an average of $60.855 a barrel, the highest since January 2020, two market participants said on Monday.

The monthly averages for February for Dubai and Oman as quoted by Platts are indicated in the table. Middle East producers set their monthly official selling prices (OSPs) at premiums or discount to these averages.

Saudi Aramco changed the benchmark for setting its official selling prices to Asia starting from October 2018 to the average of Platts Dubai and DME Oman crude futures.

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