Abu Dhabi proposes new oil-pricing system to mirror wider market

Abu Dhabi National Oil Co. is proposing a shift in how it prices crude for term customers, aligning with regional trading norms. The company is considering setting official selling prices for Upper Zakum, Das, and Umm Lulu grades based on a differential to the Dubai benchmark, a move that could simplify comparisons with other regional crudes and support increased production following the UAE's exit from OPEC.