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Dubai / Reuters
Abu Dhabi National Oil Co (ADNOC) has cut its crude allocations by 10 percent for September for the majority of its customers, an ADNOC spokesman said on Tuesday.
Reuters reported earlier that the company had notified two term buyers in Asia that they would receive 10 percent less crude for September, according to two sources familiar with the matter. The cut was steady from the previous month and applies to all three Abu Dhabi grades – Murban, Das and Upper Zakum, the sources said.
“UAE is committed to its share in (the) OPEC production cut and will reduce crude export for September for all of its crude types,†Suhail bin Mohammed Al Mazroui wrote on Twitter, saying Murban, Das and Upper Zakum grades were affected.
OPEC and allied non-OPEC producers agreed on May 25 to extend an
existing supply curb into 2018.