Dubai Financial Market (DFM) launches the Micro Oman Crude Oil Futures in collabration with Dubai Mercantile Exchange (DME).
For the first time, investors have this unique opportunity to access one of the most significant asset classes in the region.
DME is the premier international energy exchange in the middle east. The exchange was established 15 years ago to create a pricing point for crude oil produced in the region and exported to Asia through its DME Oman Futures Contract.
Middle east national oil companies use the contract to price their export of crude oil, including Saudi Arabia, Kuwait, Oman, Bahrain, and Dubai, and hence the contract is pricing 5.2 million barrels per day.
18 billion barrels have been traded over the exchange and 2.5 billion barrels delivered since the launch.