Murban Crude Jumps to 4-Month High as ADNOC Curbs Supply to Asia
OilPrice.com
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The price of Murban Crude, the flagship grade of the United Arab Emirates, surged to a four-month high this week, amid reports that the UAE’s national oil company ADNOC will reduce its immediate crude shipments to Asia.
ADNOC plans to cut by about 5% the supply it is offering in spot tenders to Asian buyers this month and next, anonymous sources with knowledge of the matter told Bloomberg on Wednesday.
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Original source: OilPrice.com