Platts to discontinue assessments of Abu Dhabi crudes differentials to OSP

Platts, part of S&P Global Commodity Insights, will discontinue its assessments of Abu Dhabi crude oil grades spot differentials to their respective official selling prices with effect from Jan. 1, 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 will discontinue its spot assessments of the grades' differentials against their respective OSPs, as indicated below, with effect from Jan. 1, 2023.

These assessments appear on the following publications and fixed pages Crude Oil Marketwire, Oil Price Report, 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.

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