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Oman to change crude pricing

14th Nov 2006, 15:56 GMT

Oman will adopt forward pricing of its crude oil based on the daily settlement price of the Dubai Mercantile Exchange's Oman Crude Oil Futures Contract, due to start trading on launch of the exchange, DME said. This means Oman will abandon current practice of retroactively pricing its crude. The DME is a joint venture between the New York Mercantile Exchange and Tatweer, a Dubai Holding subsidiary. [AMEInfo.com]

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