UAE Cuts Maritime Oil Prices
Adnoc is studying a change in the pricing mechanism for some of its marine crude oils sold under long-term contracts, aiming to align prices closer to regional trading benchmarks in the Gulf and Asia, and to support the UAE's plans to increase production and exports following its exit from OPEC and OPEC+ in May 2026. The crude prices will be determined based on the price differential against Dubai Crude for shipments two months ahead, instead of relying on Murban futures contracts, with the exception of the main Murban crude itself. This move comes as part of a broader restructuring of oil policies following the UAE's decision to disassociate from the organization. Adnoc also aims to increase its production capacity to 5 million barrels per day by 2027.
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