UAE - Mubasher: Abu Dhabi National Oil Company (ADNOC) has decided to cut its crude oil nominations for its customers in August, a source told Reuters.
Nominations for all crude grades, comprising Murban, Upper Zakum, Das, and Umm Lulu, will be reduced by 5% each.
It is noteworthy to mention that the UAE's crude oil supplies have declined by 35.5% month-on-month (MoM) or around 1.364 million barrels per day (bpd) in May 2020, as part of its commitment to OPEC+ agreement to cut crude oil production, which entered into force in May.
