ADNOC to Cut October Crude Production by 10%

ADNOC to Cut October Crude Production by 10%

Abu Dhabi National Oil Company (ADNOC) will cut its crude oil output in October by 10%, Zawya reports.

“In line with UAE’s OPEC commitments, ADNOC has informed customers of its crude oil nomination cut for October,” tweeted the UAE Energy Minister, Suhail Mohamed Al Mazrouei, as reported by Arabian Business.

The country has come under increasing pressure for its failure to comply with January’s production-cut agreement. Earlier this month it recommitted itself to the agreement, following a meeting with Russia, Kuwait, and Saudi Arabia.

ADNOC previously agreed to cut production of its Murban, Das, and Upper Zakum crudes by 10% in September, Bloomberg reported.

Earlier this summer, the UAE had only implemented 54% of its agreed-upon cuts.


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