Key facts
- ADNOC is changing its crude oil pricing methodology.
- The new system will use a prompt-month pricing structure.
- The pricing will be based on Platts Dubai assessments.
- The change is effective November 1, 2026.
- The goal is to better align with refiner economics.
- The change aims to reflect current market conditions.
- Geopolitical volatility is a factor influencing the decision.
The Abu Dhabi National Oil Company (ADNOC) is implementing a substantial overhaul of its crude oil pricing methodology, a change set to take effect on November 1, 2026. The company is transitioning from its current system to a prompt-month pricing structure. This new methodology will be based on Platts Dubai assessments, a widely recognized benchmark in the oil industry. The primary objective behind this strategic shift is to achieve a more accurate alignment with the economic realities faced by refiners and to better mirror prevailing market conditions. ADNOC's decision is also influenced by the persistent geopolitical volatility that characterizes the current global landscape. By adopting this new pricing framework, ADNOC aims to enhance the transparency and competitiveness of its crude oil offerings on the international market, ensuring its pricing remains relevant and attractive to buyers worldwide.