ADNOC's April Murban crude price set at $69.45 a barrel

Abu Dhabi National Oil Co. (ADNOC) has set the official price for April Murban crude at $69.45 per barrel, reflecting adjustments in regional supply dynamics and broader market conditions. This pricing follows ADNOC's decision to increase Murban crude offerings for April, a move aimed at aligning with growing Middle Eastern supply trends and addressing evolving demand patterns. The price represents a compression of Murban's historical premiums, as additional barrels entered the market, reducing its relative value against benchmarks like Brent and Dubai.

The decision to boost Murban supply aligns with ADNOC's strategy to optimize production flexibility, particularly as the UAE coordinates with OPEC+ partners ahead of critical policy discussions. Recent data indicates that Murban's spot premiums have narrowed to less than $2 per barrel against Dubai, underscoring the impact of increased cargo availability on regional pricing. This shift contrasts with Murban's earlier role as a premium-grade crude, driven by its light, sweet characteristics and strategic positioning in Asian markets.

Brent crude futures reached $72.61 per barrel on March 13, 2026, highlighting sustained firmness in global benchmark pricing despite rising Middle Eastern exports. ADNOC's supply adjustments also reflect broader OPEC+ considerations, with some delegates suggesting potential output increases from April could stabilize market expectations.

For investors, the interplay between Murban's pricing and regional supply strategies underscores near-term volatility risks. While Murban's technical advantages—such as its API gravity of 40.5° and low sulfur content—remain attractive to Asian refiners, its market value now hinges more directly on competitive supply volumes and geopolitical developments. The ADNOC-led supply boost, combined with OPEC+ policy clarity, will likely shape Murban's trajectory in the coming months.