Energy

Murban futures aim to consolidate UAE position as global oil power

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The flags of the United Arab Emirates and the Abu Dhabi National Oil Company sit on the reception desk in the lobby at the company’s headquarters in Abu Dhabi, United Arab Emirates.

Christopher Pike | Bloomberg | Getty Images

DUBAI, United Arab Emirates — Abu Dhabi’s move to launch its Murban oil futures contract this month will strengthen its position as a global oil power, but challenges over adoption remain, according to leading experts and analysts. 

The Abu Dhabi National Oil Company has confirmed that trading of the contract will begin on March 29, marking a major change in how the oil rich emirate prices its crude exports. Murban is Abu Dhabi’s flagship crude grade and makes up…



Source cnbc.com

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