The Abu Dhabi National Oil Company (Adnoc) has announced a 25 per cent reduction in shipments of its flagship Murban crude to customers for March.
The UAE Energy Minister Suhail al-Mazrouei has tweeted about the move saying it is aligned with the Opec member’s commitment to the current Opec/non-Opec oil output cut deal. Al-Mazrouei added that Adnoc has ‘notified its customers accordingly’.
The UAE pumped 2.878 million barrels a day (b/d) in December, according to Opec data, as part of its compliance with the international agreement among signatories to reduce output by 1.8 million b/d.
Adnoc's cuts to Murban, the UAE’s flagship crude, is one of the highest since compliance with Opec curbs began in 2017.
Adnoc had also reduced its crude allocations to clients for February, reducing supplies for Murban and Das grades by 20 per cent and 10 per cent for the Upper Zakum grade.
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