Abu Dhabi National Oil Co. (Adnoc) has raised the official formula prices of its light, sour crudes, but to levels that still lag the recent rise of competing Saudi Arab Extra Light. Adnoc increased the formula prices for November-loading Murban, Umm Lulu and Das by 15c/bbl relative to the Dubai benchmark price from the previous month (IOD Sep.8’20). This is lower than the 20c/bbl that Saudi Aramco had raised Arab Extra Light by (IOD Oct.7’20).
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