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ADNOC To Cut 5% Of Crude Volumes To Term-Lifters For December


ADNOC will cut 5% of the December crude oil supply to some term-lifters in Asia but will provide full contractual volumes in January, sourced told Reuters.

  • ADNOC cited the operational tolerance clause which can adjust loading volumes by +/- 5% for logistical reasons, the people said.
  • ADNOC exports the bulk of its crude to Asia.
  • The cut comes as OPEC+ started to trim output by 2mbpd from November.
  • OPEC+ is due to hold a meeting in Vienna on 4 Dec.

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