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ADNOC cuts crude prices in March
Abu Dhabi National Oil Company (ADNOC) said on Tuesday it had retroactively set
the official sale price for its benchmark crude for Marban crude in March at $ 66.10 a barrel, down 5 cents from February.
This makes the official price premium for the sale of Marban crude in March for Dubai crude $ 3.36, down six cents from the previous month.
The official price premium for Dubai crude in March for DAS and ZAKOM was down 11 cents from February.
Traders said ADNOC had cut all the raw materials sold to Asia to reflect weakness in the spot market last month.
March change
Merban 66.10 (+3.36) 66.15 (+3.43) -0.05 (-0.06)
DAS 65.55 (+2.82) 65.65 (+2.82) -0.10 (-0.11) ZACOM Upper 63.20 (+0.47) 63.30 (+0.58) -0.10 (-0.11)
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