ADNOC to cut Murban April supplies

ABU DHABI, The Abu Dhabi National Oil Company, ADNOC, has informed regular customers of a 25 per cent cut in nominations for April for its Murban crude, produced in the fields of ADNOC Onshore, according to the Minister of Energy and Industry, Suhail Al Mazrui.

In posts on Twitter earlier today, Al Mazrui added that the cut is “in line with the UAE’s continued commitment to the OPEC and non-OPEC ‘Declaration of Co-operation.’ “

The Minister, who is currently President of the Conference of the Organisation of Petroleum Exporting Countries, OPEC, was reported earlier this week as saying that continued reductions in output were still required to bring the international oil market back into balance.

Source: Emirates News Agency