The Middle East is a key crude supplier to Asia, exporting more than two thirds of its oil to the region.
Sourced from ADNOC’s onshore concessions, Murban crude is recognized for its production capacity of around 2 million barrels of high quality crude, representing more than half of the UAE total oil production.
ICE Murban futures* will bring transparent pricing and a forward curve to participants, establishing a secondary market for the first time. Murban represents a new oil benchmark, with this light sweet crude well-positioned to serve a global market.
Traded on ICE Futures Abu Dhabi, the contract will complement ICE’s global oil complex of over 600 products covering 47 distinct geographic locations. This provides participants with delivery at the point of consumption, capital efficiency, and inter-commodity spreads between ICE exchanges.
*Subject to regulatory approval