According to Jin10, the Abu Dhabi National Oil Company (ADNOC) cut the premium on its Murban crude for December supply by over 60% to $4 per barrel above the Dubai benchmark on November 10. The reduction exceeds the price cut announced by Saudi Aramco last week.

Middle East crude exports are recovering to pre-war levels as major producers resume shipments through the Strait of Hormuz and alternative pipelines, intensifying market share competition among regional oil producers and pressuring global crude prices.

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