Abu Dhabi August 4 2022: Abu Dhabi National Oil Co., or ADNOC, set the September IFAD-based official selling price for its flagship Murban crude oil at $105.96/b, down $11.57/b from August’s OSP of $117.53/b, the company said in an Aug. 3 pricing letter.
The September OSP differential for Umm Lulu was set at 10 cents/b premium to the Murban OSP, down 5 cents/b from August prices, while the differential for Das Blend widened to minus 80 cents/b from minus 60 cents/b last month.
The September differential for Upper Zakum was set at a discount of $3/b to the Murban OSP, up 20 cents/b from the August price.
“Fair [prices],” said a trader with a South East Asian refinery. A Chinese refinery source indicated that the OSPs were “somehow OK”.
The prices of Upper Zakum largely reflect the spread seen between light sour and medium sour crude during the Platts Market on Close assessment process by S&P Global through July, traders said.
