Adnoc Tracks Saudi Prices

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Abu Dhabi National Oil Co. (Adnoc) has raised the official selling prices of its crude exports roughly in line with the increases for competing Saudi crudes. Adnoc lifted the prices for May loadings of its light, sour Murban, Umm Lulu and Das crudes by 35¢/bbl from the previous month relative to the Dubai benchmark price (IOD Mar.10'21). That is close to the 40¢/bbl increase in the official selling price for competing Saudi Arab Extra Light crude (IOD Apr.5'21). Adnoc also raised the price for its medium, sour Upper Zakum crude by 35¢/bbl relative to Dubai. That again is comparable to the 40¢/bbl increase in the price of the competing Saudi Arab Light grade. Adnoc Official Crude Formula Prices (US$) May'21 Apr'21 Chg. Murban 1.40 1.05 0.35 Umm Lulu -0.05 -0.05 0.00 vs. Dubai 1.35 1.00 0.35 Das -0.35 -0.35 0.00 vs. Dubai 1.05 0.70 0.35 Upper Zakum -0.15 -0.15 0.00 vs. Dubai 1.25 0.90 0.35 Murban price differential to Dubai

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