UAE - Mubasher: Abu Dhabi National Oil Company (ADNOC) has pumped 2.693 million barrels per day (bpd) of crude oil in August, higher than its OPEC+ production share, Reuters reported.
ADNOC has increased its crude oil output in August to meet the higher domestic demand for associated gas necessary for power generation, two sources told Reuters.
To be in line with the UAE's commitment to cut crude oil production and compensate for the rise in August production, ADNOC will reduce its oil supply and exports in the upcoming months.
It is noteworthy to mention that in October, ADNOC will cut its crude oil supplies for fixed-term buyers by 30% to comply with the UAE's commitment to OPEC+ agreement.
