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UAE’s ADNOC Raises February Crude Prices

UAE’s ADNOC Raises February Crude Prices

ADNOC said on Wednesday it raised benchmark Murban crude prices to $56.55 per barrel, up $10.15 from the previous month.

Abu Dhabi National Oil Company (ADNOC) has raised its February retroactive selling price for crude sold to Asia, a smaller increase than what the market had expected.

ADNOC said on Wednesday it raised benchmark Murban crude prices to $56.55 per barrel, up $10.15 from the previous month.

The February Murban OSP’s differential to Dubai rose by $0.28 a barrel from the previous month, a smaller rise than the 40-50 cents expected by the market.

The 13-cent hike in February Upper Zakum OSP’s differential to Dubai was also less than traders’ forecast of 20-30 cents.

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