04JUL2018 - NEWS - Saudi Aramco plans to change pricing formula for crude oil sales to Asia

National petroleum and natural gas company, Saudi Aramco plans to change the formula used to price its long-term crude oil sales to Asia starting from October. This new formula will be based on the average monthly prices of Oman crude futures traded on the Dubai Mercantile Exchange (DME) and the average cash price for Dubai. Saudi Aramco company is headquartered at Dhahran, Saudi Arabia.