At present, there are several benchmark prices used in Asia-Paciflc 

oil trading. They are Dubai/Oman and Platts Oman and Dated 

Brent. For example, the spot trade of crude oil exported from the 

Middle East to the Asia-Pacic region is mainly based on Dubai / 

Oman prices. Dated Brent is adopted in pricing Asia-Bound West 

Africa Crude. In addition, Reuters reports that since the listing of 

the DME (Dubai Mercantile Exchange) Oman crude futures (OQD), 

the pricing reference for oil exports from Iraq, Saudi Arabia, and 

Kuwait to Asia has switched to the average monthly OQD prices 

and the average spot price assessed by Platts, rather than the 

average Oman and Dubai prices assessed by Platts as before.

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