Oman crude oil price on DME averaged at $66.40/b for July 2021 delivery barrels
Dubai Mercantile Exchange reported its monthly trading volume in May 2021 at 92.65 million barrels of Oman crude oil for July 2021 delivery barrels, with an average daily volume of 4.63 million barrels. Delivery volume for July 2021 is 11.87 million barrels
DME Oman is a key component of crude oil pricing for Saudi Arabia, Kuwait, and Bahrain and accounts for 50% of their official selling price, while it solely reflects the price of Oman and Dubai crude oil.
The contract fairly represents the majority of crude oil produced in the region and exported to East of Suez market, and is today pricing around 170 million barrels per month.
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Submitted by: Mayssam Hamadeh | Head of Marketing, Dubai Mercantile Exchange