UAE - Mubasher: Abu Dhabi National Oil Company (ADNOC) has maintained its crude oil supply cut to its term customers in Asia steady in February 2021, compared to January, three sources told Reuters.
This decision is in line with OPEC+ agreement to cut crude oil production.
ADNOC will decrease its customers' February term supplies for Murban and Das crude by 18% to 20% and for Umm Lulu by 5%.
In addition, Upper Zakum crude supplies will decline by 18% in February.
For January, ADNOC eased supply cuts, in line with the OPEC+ agreement, to raise production by 500,000 barrels per day.
OPEC+ meeting is scheduled to be held on 4 January to study whether or not it will increase February output further.
