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Average Dubai crude oil price rises to $43.278 pb in July

Average Dubai crude oil price rises to $43.278 pb in July
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Dubai – Mubasher: The average Dubai crude price, as quoted by price-reporting agency S&P Global Platts, marked its highest since February after rising by 2.487% in July 2020, Reuters reported on Monday citing sources in the oil industry as saying. 

Platts Dubai reached $43.278 a barrel in July when compared to $40.791 a barrel a month earlier, while Platts Oman registered $43.390 per barrel (pb) last month, 2.546% higher than $40.844 pb recorded in June. 

Meanwhile, Platts Oman/Dubai average came in at $43.334, up 2.517% from $40.818 pb, whilst the Platts Dubai/Oman average in Dubai Mercantile Exchange (DME) reached $43.447 pb, compared with $41.186 pb, posting a 2.261% monthly rise.

The Middle East producers set their monthly official selling prices (OSPs) at premiums or discount to Oman and Dubai crude averages.