Average Dubai crude oil price increases to 10-month-high in December

  • Date: 04-Jan-2021
  • Source: Mubasher
  • Sector:Oil & Gas
  • Country:UAE
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Average Dubai crude oil price increases to 10-month-high in December

The average Dubai crude oil price rose for the second month in a row













04 January 2021 10:14 AM





























UAE - Mubasher: The average Dubai crude oil price, as quoted by S&P Global Platts, increased for the second month in a row in December to $49.815 a barrel, marking the highest price since February, Reuters reported.





The Middle East producers determine their monthly official selling prices (OSPs) at premiums or discounts based on the average prices of Dubai and Oman crude.





Saudi Aramco has changed the OSPs for its crude oil to Asia to the average of Platts Dubai and DME Oman crude futures since October 2018.





It is noteworthy to mention that in September, the Middle East crude benchmark Dubai decreased to $41.495 per barrel, marking its lowest level since June.