DME Oman
DME Oman Price
| Date | Price US$ per bbl | Price US $ per MT | Long Tons | US Gallons,$ |
|---|---|---|---|---|
| 2023-02-18 | $82 | 601 | 611 | 1.95 |
| 2023-02-16 | $83 | 611 | 621 | 1.99 |
| 2023-02-15 | $84 | 617 | 627 | 2 |
| 2023-02-14 | $85 | 620 | 631 | 2.02 |
| 2023-02-14 | $86 | 627 | 637 | 2.04 |
| 2023-02-13 | $86 | 627 | 637 | 2.04 |
| 2023-02-10 | $85 | 622 | 632 | 2.02 |
| 2023-02-09 | $83 | 607 | 617 | 1.97 |
| 2023-02-08 | $83 | 610 | 620 | 1.98 |
| 2023-02-07 | $82 | 599 | 609 | 1.95 |
| 2023-02-06 | $79 | 578 | 588 | 1.88 |
| 2023-02-04 | $78 | 573 | 582 | 1.86 |
| 2023-02-03 | $78 | 573 | 582 | 1.86 |
| 2023-02-02 | $80 | 589 | 599 | 1.91 |
| 2023-02-01 | $81 | 592 | 601 | 1.92 |
| 2023-01-31 | $82 | 603 | 613 | 1.96 |
| 2023-01-30 | $82 | 600 | 609 | 1.95 |
| 2023-01-27 | $83 | 611 | 621 | 1.98 |
| 2023-01-26 | $85 | 621 | 631 | 2.02 |
| 2023-01-25 | $84 | 613 | 623 | 1.99 |
| 2023-01-24 | $83 | 611 | 621 | 1.99 |
| 2023-01-23 | $86 | 628 | 638 | 2.04 |
| 2023-01-20 | $85 | 623 | 633 | 2.02 |
| 2023-01-19 | $84 | 613 | 623 | 1.99 |
| 2023-01-18 | $82 | 604 | 614 | 1.96 |
| 2023-01-17 | $84 | 616 | 626 | 2 |
| 2023-01-16 | $83 | 606 | 616 | 1.97 |
| 2023-01-13 | $83 | 606 | 616 | 1.97 |
| 2023-01-12 | $81 | 595 | 604 | 1.93 |
| 2023-01-11 | $80 | 584 | 594 | 1.9 |
DME Oman Historical price
- In 2017 maximum price $64 per bbl (2017-12-28)
- In 2018 maximum price $52 per bbl (2018-12-28)
- In 2019 maximum price $68 per bbl (2019-12-30)
- In 2020 maximum price $51 per bbl (2020-12-31)
- In 2021 maximum price $76 per bbl (2021-12-31)
- In 2022 maximum price $81 per bbl (2022-12-30)
- In 2023 maximum price $82 per bbl (2023-02-18)
Understanding DME Oman Crude Oil: A Comprehensive Guide
DME Oman crude oil is a benchmark for the price of oil in the Middle East, used as a reference price for Middle Eastern crude oil exports to Asia. It is widely considered to be one of the most reliable and representative crude oil pricing benchmarks in the world, and is a critical factor in global oil prices. In this article, we will explore the history and importance of DME Oman crude oil, and provide an in-depth understanding of its role in the global oil market.
The History of DME Oman Crude Oil
DME Oman crude oil was launched in 2007 as a joint venture between the Dubai Mercantile Exchange (DME) and the government of Oman. The goal was to create a transparent and independent price benchmark for the sale of Omani crude oil, which is one of the highest quality crudes in the world.
Before the launch of DME Oman crude oil, prices for Omani crude oil were determined through negotiations between buyers and sellers. This process was often shrouded in secrecy and lacked transparency, which made it difficult for market participants to accurately assess the value of Omani crude.
The introduction of DME Oman crude oil changed all that. By providing a transparent and independent price benchmark, the new benchmark helped to increase the transparency and efficiency of the market, and to establish Omani crude oil as a premium brand in the global oil market.
The Importance of DME Oman Crude Oil
DME Oman crude oil is widely considered to be one of the most important price benchmarks in the world. It is used as a reference price for Middle Eastern crude oil exports to Asia, and is a critical factor in global oil prices.
One of the main reasons for its importance is its high quality. Omani crude oil is considered to be one of the highest quality crudes in the world, with low sulfur content and a high yield of valuable products such as diesel and jet fuel. This makes it highly sought after by refining companies, and contributes to its status as a premium brand in the global oil market.
In addition, DME Oman crude oil is also considered to be a fair and representative benchmark for the price of oil in the Middle East. It is independently administered and based on actual transactions, which helps to ensure that it accurately reflects market conditions.
The Role of DME Oman Crude Oil in the Global Oil Market
DME Oman crude oil plays a crucial role in the global oil market. As a reference price for Middle Eastern crude oil exports to Asia, it helps to determine the price of oil in this important market, and to establish a benchmark for other crudes in the region.
It is also a critical factor in global oil prices, as it is used by market participants to assess the value of other crudes and to make trading decisions. This makes it a key reference point for the entire oil market, and helps to ensure that the market operates in a transparent and efficient manner.
In conclusion, DME Oman crude oil is a critical benchmark for the price of oil in the Middle East, and plays a crucial role in the global oil market. Its history and importance, combined with its reputation as a high-quality and representative benchmark, make it a key reference point for market participants and an essential tool for understanding the oil market.
Frequently Asked Questions about DME Oman Crude Oil
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What is DME Oman crude oil? DME Oman crude oil is a benchmark for the price of oil in the Middle East, used as a reference price for Middle Eastern crude oil exports to Asia. It is considered to be one of the most reliable and representative crude oil pricing benchmarks in the world.
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How is the price of DME Oman crude oil determined? The price of DME Oman crude oil is determined by actual transactions, and is based on the volume-weighted average of all trades that occur during a specified time period. It is independently administered by the Dubai Mercantile Exchange (DME), ensuring that it accurately reflects market conditions.
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What makes DME Oman crude oil unique? DME Oman crude oil is unique due to its high quality. Omani crude oil is considered to be one of the highest quality crudes in the world, with low sulfur content and a high yield of valuable products such as diesel and jet fuel. This makes it highly sought after by refining companies, and contributes to its status as a premium brand in the global oil market.
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Why is DME Oman crude oil important? DME Oman crude oil is important because it is widely considered to be one of the most important price benchmarks in the world. It is used as a reference price for Middle Eastern crude oil exports to Asia, and is a critical factor in global oil prices.
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What is the role of DME Oman crude oil in the global oil market? DME Oman crude oil plays a crucial role in the global oil market as a reference price for Middle Eastern crude oil exports to Asia and as a critical factor in global oil prices. It is used by market participants to assess the value of other crudes and to make trading decisions, making it a key reference point for the entire oil market.
Conclusion
In conclusion, DME Oman crude oil is a crucial benchmark for the price of oil in the Middle East, widely considered to be one of the most reliable and representative crude oil pricing benchmarks in the world. Its high quality and importance in the global oil market make it a key reference point for the entire oil market, and a critical factor in global oil prices.
For more information on DME Oman crude oil and its role in the global oil market, please visit the Dubai Mercantile Exchange (DME) website. The DME is the independent administrator of the DME Oman crude oil price benchmark, and is the source of the most accurate and up-to-date information on this important benchmark.
