Abu Dhabi National Oil Co.(Adnoc) has lowered its official formula prices more or less in line with price cuts for competing Saudi crudes.The move is likely to come as a relief to Asian market players who had previously snapped up Abu Dhabi spot crudes in expectation of shallower Saudi price cuts.Adnoc cut its formula prices for October-loading crude by $1.35 per barrel from the previous month for its medium,sour Upper Zakum crude as well as for its three light,sour grades-Murban,Umm Lulu and Das (IOD Aug.11’20).
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