The price of Murban crude oil is influenced by a variety of factors, including global demand for oil, supply and production levels, geopolitical events, and market speculation.
The Abu Dhabi National Oil Company (ADNOC) is the primary producer of Murban crude oil and plays a significant role in determining the price of the oil. ADNOC sets the official selling price (OSP) for Murban crude, which is used as a benchmark for other crudes in the region. The OSP is based on a variety of factors, including the quality of the oil, transportation costs, and market conditions.
Other factors that can influence the price of Murban crude include global demand for oil, supply and production levels, and geopolitical events that may affect the stability of oil-producing regions. Market speculation, in which traders and investors buy and sell crude oil contracts in an attempt to profit from changes in the oil market, can also affect the price of Murban crude.
It is worth noting that the price of Murban crude is not determined by any single company or group of companies, but rather is influenced by a complex set of market forces.