Following Saudi price cuts, Abu Dhabi state oil firm ADNOC cut the premium on December-loading Murban crude by more than 60% to $4/bbl above the Dubai benchmark, traders said. Official selling prices for other major UAE grades were also lowered versus November. The Murban reduction exceeds ARAMCO’s cut announced last week. Middle East crude exports are recovering toward pre-war levels as flows resume via tankers through the Strait of Hormuz and pipelines that bypass it, a development weighing on

Following Saudi price cuts, Abu Dhabi state oil firm ADNOC cut the premium on December-loading Murban crude by more than 60% to $4/bbl above the Dubai benchmark, traders said. Official selling prices for other major UAE grades were also lowered versus November. The Murban reduction exceeds ARAMCO’s cut announced last week. Middle East crude exports are recovering toward pre-war levels as flows resume via tankers through the Strait of Hormuz and pipelines that bypass it, a development weighing on global oil prices.