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"As part of UAE compliance with the OPEC agreement, ADNOC
announced its December crude oil nomination cut," Mazroui wrote
on his Twitter account. "This reflects the UAE's continued focus
on reducing its oil production by 139,000 (barrels per day) as
per its OPEC commitment."
State-owned Abu Dhabi National Oil Co (ADNOC) said last week it
has cut the amount of oil supplies to its customers for December
by reducing Murban grade by 15 percent, Das grade by 10 and
Upper Zakum crude by 5 percent.
The Organization of the Petroleum Exporting Countries and allied
non-OPEC producers including Russia cut output by about 1.8
million barrels per day from Jan. 1, and extended the existing
supply curb into March 2018. OPEC will review policy at a Nov.
30 meeting.
Compliance with the cuts among OPEC and other oil producers were
over 100 percent in the past couple of months, a rare level of
commitment to supply curbs for the organization.
The UAE's compliance, however, has been lower because it is
using its own, higher, output level as a reference point for its
supply cut, rather than the supply baseline used in the
agreement.
(Reporting by Rania El Gamal, editing by Louise Heavens)
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