Abu Dhabi National Oil Company (ADNOC) announced an update to its Official Selling Price (OSP) mechanism for Abu Dhabi crude oil, following a periodic commercial review.
Effective November 1, 2026, ADNOC will move from its current pricing mechanism based on the Intercontinental Exchange Abu Dhabi Futures (IFAD) using the Murban futures contract, which sets the price of crude oil two months prior to loading, to a monthly pricing mechanism based on the Platts Dubai benchmark, plus a price differential announced by ADNOC in the month preceding the target delivery month.
The updated pricing mechanism will be applied to all Abu Dhabi crude oils, both onshore and offshore, including Murban, Das, Umm Lulu and Upper Zakum, and will enhance pricing consistency with the loading month.
According to the statement on the company’s website, the change in the pricing mechanism is not expected to have a material impact on any of ADNOC’s listed financial instruments, including issuances made under ADNOC Murban’s medium-term note or sukuk programs.
The group also confirms that it will continue to fulfill all its commitments related to the delivery of its crude oil from Abu Dhabi's onshore and offshore fields.
