The Abu Dhabi National Oil Company reduced its flagship crude price by $2.96 per barrel for July amid softer regional benchmarks.
Abu Dhabi National Oil Company set its July official selling price for Murban crude at $101.48 per barrel, down from $104.44 in June. The cut follows easing tensions in the Strait of Hormuz and softer international oil benchmarks.
The adjustment aligns with declines in Middle Eastern crude prices, reflecting improved market stability. ADNOC also priced its Umm Lulu, Das, and Upper Zakum grades at $101.48 for July, matching Murban’s level.
No immediate market reaction was reported following the pricing update.