Middle East crude for sale to Asia fell from the highest in 27 months as Abu Dhabi maintained the supply of its flagship Murban grade.
Oman oil for immediate loading fell 69 cents, or 0.8 percent, to $91.20 a barrel, according to data compiled by Bloomberg. The high-sulfur grade was previously at the highest since September 2008. Dubai crude for loading in February dropped 69 cents to $90.92. Abu Dhabi’s light Murban crude was down 69 cents at $93.58.
Abu Dhabi National Oil Co. kept a reduction on Murban supplies at 10 percent from agreed volumes in February, unchanged from January’s cuts, the state-run producer in the United Arab Emirates capital said in an e-mailed statement. The U.A.E. is a member of the Organization of Petroleum Exporting Countries, which pledged at a Dec. 11 meeting to maintain production targets. Half of the group’s 12 members are from the Middle East.
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