Abu Dhabi National Oil Co. is revising the pricing system behind its flagship crude benchmark, marking a notable change in how one of the region’s most closely watched oil grades is valued. The company said it will move away from the ICE Futures Abu Dhabi-based methodology that has been tied to Murban futures.
The update matters because Murban has become an important reference point for crude pricing in Abu Dhabi and across broader regional trading. Any change to the formula used to set benchmark values can influence how market participants compare physical crude sales with futures-linked pricing.
Based on the company’s announcement, the shift represents a move away from the structure ADNOC originally used to build its benchmark around the Murban contract. While the limited details available do not outline every part of the revised approach, the decision signals that ADNOC is adjusting the way it wants its core crude grade priced in the market.
For oil traders, refiners and regional producers, the overhaul is likely to draw attention because benchmark design can affect pricing alignment, contract references and market confidence. ADNOC’s decision underscores the continuing evolution of crude pricing in the Gulf as producers refine the tools used to reflect supply, demand and trading activity.
