- DUBAI: Abu Dhabi National Oil Co (ADNOC) said on Sunday it will supply Murban crude for April at 5 percent below contracted volumes in June, compared to full volumes in May.
Allocations for Lower Zakum, Umm Shaif and Upper Zakum will also be supplied at a 5 percent cut, compared to no cuts in May ADNOC said.
“We have decided to cut the allocations for June in order to comply with our OPEC quota,” said an official from ADNOC.
The UAE often changes supply levels to customers of its different export grades, although these changes do not necessarily reflect a change in production.
Murban is the main export grade for OPEC-member the UAE, the world’s third-largest crude oil exporter. ADNOC produces most of the UAE’s crude.