03 Jan 2023 | 03:20 UTC

Platts discontinues assessments of Abu Dhabi crudes' differentials to OSP

Platts, part of S&P Global Commodity Insights, has discontinued its assessments of Abu Dhabi crude oil grades' spot differentials to their respective official selling prices with effect from Jan. 3, 2023.

Platts first proposed the change in a subscriber note published May 18, 2022: https://www.spglobal.com/commodityinsights/en/our-methodology/subscriber-notes/051822-platts-proposes-to-discontinue-assessments-of-abu-dhabi-crudes-differentials-to-osp Platts understands that Abu Dhabi crude oil grades Murban, Upper Zakum, Umm Lulu and Das Blend now trade in the spot market primarily at a differential (premium or discount) to benchmark Platts Dubai.

In the past, these grades traded in the spot market predominantly at a differential to their respective OSPs as well as against Platts Dubai. Murban crude futures trade on the ICE Futures Abu Dhabi and serve as the basis for Murban, Das Blend, Upper Zakum and Umm Lulu OSPs.

Platts began publishing Abu Dhabi grades' spot differentials to same-month (M+2) Dubai crude futures on June 1, 2021. https://www.spglobal.com/commodityinsights/en/our-methodology/subscriber-notes/060121-platts-launches-differentials-to-front-month-dubai-futures-for-all-dubai-basket-abu-dhabi-crude-assessments

Platts also publishes IFAD Murban futures spread to same-month (M+2) Dubai crude futures. Platts has discontinued its spot assessments of the grades' differentials against their respective OSPs, as indicated below, with effect from Jan. 1, 2023.

Symbol description
Daily symbol
Monthly symbol
Murban spot diff vs OSP
AAKUB00
AAKUC00
Upper Zakum spot diff vs OSP
AAOUR00
AAOUR03
Umm Lulu spot diff vs OSP
AUFAB00
AUFAB03
Das Blend spot diff vs OSP
AAXPF00
AAXPF03

These assessments appear on the following publication and fixed pages Price Average Supplement, MH/CR2220, MH/CR2221, MH/CR2222 and MH/CR2223.

Please send any comments, feedback or questions to asia_crude@spglobal.com and pricegroup@spglobal.com. For written comments, please provide a clear indication if comments are not intended for publication by Platts for public viewing. Platts will consider all comments received and will make comments not marked as confidential available upon request.