Average Dubai crude oil price jumps $10 in May to $30.467/bbl, Platts says
Middle East crude benchmark Dubai, as quoted by price-reporting agency S&P Global Platts, rebounded in May to an average of $30.467 a barrel, Platts said on its website, leaping more than $10 from April’s $20.387.
The monthly averages for May for Dubai and Oman as quoted by Platts are indicated in the table below.
Middle East producers set their monthly official selling prices (OSPs) at premiums or discount to these averages.
Saudi Aramco changed the benchmark for setting its official selling prices to Asia starting from October 2018 to the average of Platts Dubai and DME Oman crude futures.
CRUDE May April CHANGE Platts Dubai $30.467 $20.387 $10.080 Platts Oman $30.751 $20.482 $10.269 Platts Oman/Dubai average $30.609 $20.435 $10.175 Platts Dubai/DME Oman average $32.074 $22.021 $10.053
Source: Reuters (Reporting by Shu Zhang; Editing by Kenneth Maxwell)