Adnoc's crude price averages $76.62 per barrel

Dubai: The average official selling price (OSP) of Abu Dhabi crude oil grades rose 28.21 per cent on year to $76.62 (Dh281.19) a barrel in the first 10 months of 2010 on global oil price trends, figures extrapolated from the state-owned Abu Dhabi National Oil Company (Adnoc) data show.

In January to October 2009, the average selling price of Abu Dhabi crude grades was $59.76 a barrel.

The prices of Adnoc crude oil grades have risen this year as consumption rose worldwide amid the improved outlook for the global economy. In October the price of Adnoc crude grades averaged $80.84 a barrel, higher than $75.26 a barrel in September.

In October, the OSP of Abu Dhabi's most popular grade, Murban, was $81.50 a barrel. It was followed by Lower Zakum at $81.35 a barrel, Umm Shaif at $81.15 a barrel and Upper Zakum at $79.35 a barrel.