# UAE crude pricing shift to Dubai benchmark

> Live situation record from CLSTR: https://clstr.news/situations/uae-crude-pricing-shift-to-dubai-benchmark
> Updated: 2026-07-31T05:42:26.000Z. Sources: 8. Developments: 2.

In early July 2026 the United Arab Emirates announced that its offshore crude grades would be linked to the Dubai benchmark, positioning Murban as a global reference. By the end of the month, Abu Dhabi National Oil Company (ADNOC) detailed the next step: from 1 November 2026 it will replace the Murban futures‑based Official Selling Price with a prompt‑month pricing formula anchored to the Platts Dubai benchmark. The new method adds a company‑announced differential disclosed a month before delivery and applies to the four Abu Dhabi grades—Murban, Das, Umm Lulu and Upper Zakum. ADNOC said the change aligns prices with the actual loading month, will not materially affect its listed financial instruments or physical deliveries, and follows the UAE’s May 2026 exit from OPEC and OPEC+, which enables greater commercial autonomy.

## Claims

- ADNOC will change its Official Selling Price methodology effective 1 November 2026. (corroborated by 4 sources)
- The new methodology will replace the Murban futures‑based model with a prompt‑month pricing based on the Platts Dubai benchmark plus a company‑announced differential. (corroborated by 4 sources)
- The change applies to all four Abu Dhabi crude grades: Murban, Das, Umm Lulu and Upper Zakum. (corroborated by 4 sources)
- ADNOC says the new pricing aligns prices with the actual month of loading. (corroborated by 4 sources)
- The pricing change will not materially affect ADNOC's listed financial instruments, including its GMTN and Sukuk programmes. (corroborated by 4 sources)
- ADNOC will continue to meet delivery obligations for its onshore and offshore crude grades. (corroborated by 4 sources)
- The pricing shift follows the UAE’s exit from OPEC and OPEC+ on 1 May 2026, freeing ADNOC from production quotas. (corroborated by 2 sources)
- Previously, ADNOC priced crude using the ICE Futures Abu Dhabi Murban contract, setting prices two months ahead of loading. (corroborated by 2 sources)

## Timeline

### 2026-07-31: ADNOC to adopt prompt‑month pricing based on Platts Dubai from Nov 1 2026

ADNOC will switch from Murban futures to a prompt‑month Platts Dubai pricing model for all Abu Dhabi crude grades on 1 Nov 2026, with no impact on its financial instruments or deliveries.

8 sources. https://clstr.news/cluster/borouge-q2-profit-jumps-23-after-ruwais-incident-dividends-maintained

### 2026-07-03: UAE links offshore crude grades to Dubai benchmark, pushes Murban as global index

ADNOC reprices Upper Zakum, Das and Umm Lulu offshore crudes to a Dubai‑linked formula and promotes Murban futures on ICE Futures Abu Dhabi to capture Asian refiners.

2 sources. https://clstr.news/cluster/uae-links-offshore-crude-grades-to-dubai-benchmark-pushes-murban-as-global-index

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Cite as: UAE crude pricing shift to Dubai benchmark. CLSTR, https://clstr.news/situations/uae-crude-pricing-shift-to-dubai-benchmark