Oil-producing countries in the Middle East lower prices as competition for market share intensifies

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智通财经2026/11/10 13:37

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After neighboring Saudi Arabia lowered its crude oil prices, the UAE also significantly reduced the premium for the December supply of its flagship crude oil grade.
As Middle Eastern crude oil supplies recover, competition for market share among oil-producing countries is becoming increasingly intense.
According to informed traders, UAE state-owned oil giant Abu Dhabi National Oil Company has reduced the premium for its Murban crude by more than 60%, to a premium of $4 per barrel over the Dubai benchmark oil price.
This price uses the Dubai benchmark oil price as a reference, and the official selling prices of other major UAE crude grades have also been lowered compared to November.
The price cut for Murban crude this time even exceeds the reduction announced by Saudi Aramco last week.
Meanwhile, Middle Eastern crude exports are returning to the levels seen before the outbreak of the Iran war, putting downward pressure on global oil prices.
Leading Middle Eastern oil producers have gradually resumed crude exports by using tankers to transport oil through the Strait of Hormuz and pipelines that bypass this high-risk route.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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Oil-producing countries in the Middle East lower prices as competition for market share intensifies

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