Dubai – Mubasher: Abu Dhabi National Oil Company’s (ADNOC) initiative of export cuts became a model for other national oil companies (NOCs) for members and non-members of the Organization of Petroleum Exporting Countries (OPEC) to achieve market stability, UAE energy minister Suhail Al Mazrouei said.
“Notifying the customers and the market of the actual changes to the lifting schedule provides transparency and credibility of cut compliance,” Al Mazrouei added in a tweet.
ADNOC notified its customers of an around 10% cut in the loading schedule for September.
