Energy-markets giant Intercontinental Exchange will team up with Abu Dhabi’s state oil producer and some of the world’s biggest oil companies to launch a new futures exchange in the emirate, which could shake up the way Mideast crude is traded.

ICE and Abu Dhabi National Oil Co., or Adnoc, said in a joint statement on Monday that they were aiming to launch the new exchange in the first half of 2020, along with its new Murban crude-oil futures contracts.