Platts clarifies Dubai crude oil GT&C for Middle East crude oil MOC

Platts, part of S&P Global Energy, wishes to clarify the terms and conditions for the transaction of Dubai crude oil grade in the Middle East crude oil partials and cargo Market on Close assessment process.

Platts understands Dubai Crude Oil General Terms and Conditions are applied in the transaction of Dubai grade in the physical cargo market as part of normal trading practice.

Under Platts editorial guidelines for the crude partials MOC, terms and conditions must be declared at seller's option upon transaction of the 20th partial. Any of these terms and conditions, however, should not allow for further optionality over cargo size. A physical cargo created by 20 partial cargoes would be 500,000 barrels, with an operational tolerance of 1,000 barrels.

Please send questions, comments or feedback to asia_crude@spglobal.com and PriceGroup@spglobal.com.

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