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UAE's ADNOC raises prices for all crude oil grades in Nov

Kitco News

SINGAPORE, Dec 6 (Reuters) - Abu Dhabi National Oil Company (ADNOC) late on Tuesday raised prices for all three of its crude grades in November.

The producer set the November retroactive official selling price (OSP) for its benchmark Murban crude at $63.65 per barrel, up $5.55, ADNOC said in a statement.

That puts the November Murban official selling price (OSP) at $2.83 per barrel above the average of Dubai quotes for the month, the highest premium since May 2016, Reuters data showed.

ADNOC raised the OSP premiums to Dubai quotes for all grades by 28 cents a barrel, within market expectations. The following table shows the latest OSPs and their differentials to Dubai in brackets.

OCT NOV Change Murban $58.10 (+$2.55) 63.65 (+$2.83) $5.55 (+$0.28) Das $57.75 (+$2.20) 63.30 (+$2.48) $5.55 (+$0.28) Upper Zakum $56.20 (+$0.65) 61.75 (+$0.93) $5.55 (+$0.28)

(Reporting by Florence Tan; Editing by Joseph Radford)

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