Abu Dhabi National Oil Company announced on July 31, 2026, that it will change its pricing method for crude oil grades sold to global customers. The shift replaces the current system, which locks in prices months in advance, with a new approach that better reflects market conditions at the time of delivery.

The UAE state-owned oil firm stated on Friday that, effective November 1, it will set official selling prices based on the spot-month Platts Dubai benchmark, an indicator tracking the physical spot market value of Middle Eastern crude. Premiums and discounts will then be announced before the delivery month. Currently, the company uses Murban futures contracts traded on the ICE Abu Dhabi Futures Exchange, with prices determined two months before the crude is shipped.

This change means buyers will receive pricing tied to a more current benchmark during periods of high volatility, aligning more closely with prevailing market conditions. Amena Bakr, Head of Middle East Energy at Kpler, noted that the adjustment brings Adnoc's pricing closer to the actual loading month and helps reduce mismatches between pricing and current physical market conditions.