◂ Event Timeline

Jul 31, 2026POLICYGlobal

Adnoc to Base Crude Oil Prices on Platts Dubai Benchmark

ADNOC said it will base its official selling prices for crude on the prompt-month Platts Dubai benchmark starting November 1, adding a differential announced in advance. The change alters how Gulf crude pricing is set.

WHY IT MATTERS

A shift in Gulf crude pricing benchmarks affects regional oil cost structures but has limited direct effect on grain, oilseed or feed prices.

AFFECTSCrude Oil (Brent)◆

SOURCE
wsj.comGiulia PetroniJul 31, 2026

Price reaction & history

Crude Oil (Brent)◆neutralSO FAR1d +3.3%5d -4.9%20d -0.6%

After 175 past neutral policy events, Crude Oil (Brent) moved a median -0.9% over 5 sessions (45% higher; middle half -3.6% to +3.0%), and +0.7% over 20.

Feb 13, 2017How to Raise Oil Prices Without Really Cutting - Bloomberg-1.4%
Dec 2, 2021Oil prices: OPEC and Russia stick with plans to increase oil output in January | CNN Business+9.7%
Aug 1, 2022Oil output to see small hike to ease energy prices-11.9%
Nov 22, 2016Oil prices ease off three-week high on worries over OPEC output cut+0.1%
Aug 27, 2021OPEC stays the course on output hikes as oil prices rebound+3.6%

Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.

Crude Oil (Brent) BRENT · GP ▸

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