About Brent Crude · UAE
The UAE is an OPEC+ member producing approximately 3.2 million barrels per day through ADNOC (Abu Dhabi National Oil Company). UAE crude (Abu Dhabi Murban) is a light, sweet crude used as the regional benchmark for Middle Eastern oil pricing.
The AED is pegged to the USD at 3.6725, so AED oil prices track USD Brent prices exactly. The UAE has some of the lowest domestic fuel prices in the world due to government subsidies, though prices have been partially liberalized since 2015.
Frequently Asked Questions
What oil does the UAE produce? +
The UAE produces Abu Dhabi Murban crude (light sweet, API 40.5) through ADNOC. Murban is the regional pricing benchmark and now has its own futures contract on the ICE Futures Abu Dhabi (IFAD) exchange.
What is OPEC+? +
OPEC+ is a coalition of OPEC members (including UAE, Saudi Arabia) plus non-OPEC producers (Russia, Kazakhstan). It coordinates production quotas to manage global oil supply and prices.
How are UAE petrol prices set? +
UAE fuel prices are set monthly by the Federal Fuel Price Committee and linked to international benchmarks. Prices have been market-linked since 2015, ending the era of fixed subsidized prices.
What is the ADNOC OSP? +
ADNOC sets its Official Selling Price (OSP) monthly for Murban and other UAE crude grades. The OSP is a differential to Brent and is the reference for ADNOC's long-term supply contracts with Asian refiners.
Oil Market Analysis - UAE (March 2026)
The UAE is a major oil producer and OPEC member, with production capacity exceeding 4 million barrels per day. Abu Dhabi's ADNOC sets the Murban crude benchmark, which gained international prominence after listing on the ICE Futures Abu Dhabi (IFAD) exchange. Domestic fuel prices in the UAE are set monthly by the government and reflect international crude movements. In 2026, the UAE is balancing oil revenue maximisation with its ambitious energy transition plans under the UAE Net Zero 2050 strategy.