UAE

Adnoc Offers Lower Prices to Term Customers

Despite Abu Dhabi's decision to hold off from any official adjustment of its differentials until after the forthcoming OPEC meeting, it seems that term customers for Abu Dhabi crude have already been offered some degree of price relief. MEES learns that the Abu Dhabi National Oil Company (ADNOC) has assured its customers that a discount of 50 cents on Murban crude and 60 cents on Umm Shaif crude will be forthcoming. Given the current...