Abu Dhabi – Mubasher: The UAE’s minister of energy on Sunday said that Abu Dhabi National Oil Company’s (ADNOC) decision to reduce its production in November reflects the UAE’s adherence to the output reduction agreement with the Organization of the Petroleum Exporting Countries (OPEC).
The UAE’s share in the reduction is 139,000 barrels per day as determined by OPEC, Suhail Al Mazrouei said via Twitter.
ADNOC announced that it will reduce its production of Das crude oil and Upper Zakum crude oil by 10% and 5%, respectively, in November.
At the end of 2016, OPEC members along with several non-OPEC members agreed in Vienna to decrease their production by 1.8 million barrels per day.
The deal was implemented in the first six months of 2017 and was extended for another nine months set to end March 2018.
