UAE's ADNOC cuts Murban crude price for Feb by $11.70/barrel | ZAWYA MENA Edition:
Abu Dhabi National Oil Company (ADNOC) has cut its retroactive selling price for its benchmark Murban crude for February by $11.70 a barrel to $56.10 a barrel, the company said on Monday.
In January, ADNOC has set its selling price for Murban at $67.80 per barrel.
"ADNOC has always sets a fair and reasonable retroactive price for its crude that is consistent with market conditions. We can assure our customers that this practice will continue," the company said in a statement.
ADNOC has also cut its official selling prices for the rest of its crude grades for February. The move comes after Saudi Arabia slashed crude prices for April, following the collapse of OPEC’s pact on cutting supplies with Russia.
No comments:
Post a Comment