Abu Dhabi – Mubasher: Abu Dhabi National Oil Company (ADNOC) has reduced prices of its all crude oil grades in August in a bid to ensure its competitiveness in Asian markets.
The state-run firm, which generates almost all of the UAE' oil, set its retroactive official selling price (OSP) for Murban crude to Asia at $75.05 per barrel (pb) in August, according to a formal statement.
This move put Murban OSP's premium to Dubai quotes at $2.56 pb, down 62 cents compared to the month before.
Das’ premium OSP in August to Dubai quotes was decreased by 67 cents from July to hit $1.96 pb.
