MUSCAT: The actual delivery volumes of Oman crude oil on Dubai Mercantile Exchange (DME) at the end of the first half of 2023 increased by 18 per cent, while the trading volumes of the crude witnessed a remarkable growth of 15 per cent.
Raid bin Khalifa al Salami, Managing Director of DME, explained that the Oman crude oil futures contract continues to attract a large number of traders from around the world, which confirms the status and importance of the contract in global oil markets as an ideal tool for hedging and managing financial risks.
He told the Oman News Agency that trading volumes for the month of delivery rose from 361 million barrels in the first half of 2022 to 415 million barrels during the same period of the current year, and trading volumes reached 106 million barrels from March to August 2023, compared to 90 million barrels during the same period for the previous year.
Al Salami added that the first half of the current year was characterized by positivity at various levels. This is due to the DME’s continued commitment to transparency and providing an integrated and secure trading platform, stressing the exchange’s keenness to provide traders with the tools that enable them to manage financial risks in the oil markets, which are characterized by daily fluctuations and fluctuations. — ONA
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