Dubai, Dubai Energy Exchange announced that the actual delivery of Oman Crude in 2022 rose by 23 percent to 181 million barrels, compared to 147 million barrels in 2021.

The bourse saw remarkable growth in trading volumes, which reflects traders’ interest in the significance of “Oman futures contract in global oil markets” as an ideal instrument in hedging and managing financial risks, notably during the period of sharp fluctuations in the markets in 2022.

The stock exchange also registered significant increase in the trading volumes of the Oman crude contract for the month of delivery, to the tune of 22 percent, with the total trading volume rising by 11 percent. This stems from Oman crude contract’s providing a highly transparent platform for price speculation.

The overall outcome is that Oman crude contract has been endorsed by GCC national oil companies as a benchmark for pricing their exports to Asia.

Raid Al Salami, Managing Director at Dubai Mercantile Exchange (DME), said, “These facts confirm the importance of Oman futures contract as a preferred criterion for Sulfur crude oil prices in the Middle East and Asian markets.”

Source: Oman News Agency