The UAE announced it would continue its production cuts in December, Reuters reports.
The Abu Dhabi National Oil Company (ADNOC) announced last week that it would cut sales of its Murban crude by 15%, its Das crude by 10%, and its Upper Zakum crude by 5% in December, according to Reuters.
“This reflects the UAE’s continued focus on reducing its oil production by 139,000 [barrels per day] as per its OPEC commitment,” tweeted UAE Energy Minister Suhail El Mazroui, Reuters reports.
The cuts are in line with the UAE’s announced reductions for the month of November. The UAE was slow to implement its agreed-upon production cuts, but, after meeting with representatives from Russia, Kuwait, and Saudi Arabia in August, it has made further output reductions.
The UAE is a member of OPEC and a party to an agreement between OPEC and several other large oil producers, including Russia, to cut global oil production by 1.8 million barrels per day.