ADNOC announces nomination cut for May

ABU DHABI - Abu Dhabi National Oil Company (ADNOC) announced today it would cut crude supplies to its clients for May.

By (WAM)

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Published: Tue 24 Mar 2009, 2:55 PM

Last updated: Thu 2 Apr 2015, 7:45 AM

ADNOC has advised its clients of a nomination cut during May of 15% for Murban, Lower Zakum and Umm Shaif and 10% for Upper Zakum.

ADNOC said the cut in allocations is in line with the UAE commitment to OPEC's output quota.

last year, OPEC trimmed output by 4.2 mbpd during a series of meetings it held in September, October and December. The group also decided in a meeting on 15 March in Vienna to roll out its output ceiling and convene an extraordinary meeting on 28 May to review developments in the world oil market against the backdrop of the global economic situation.

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