ADNOC to cut crude oil supplies to Asia in June

Oil

Abu Dhabu National Oil Company (ADNOC) has announced that it plans to deepen its crude oil supply cuts to Asian customers by 15% in June, up from 5% in May, Reuters report. This comes as part of the United Arab Emirates’ OPEC+ output cut obligations, and will apply to the Murban, Das, Umm Lulu and Upper Zakum crude oil grades, according to Newswires. The OPEC+ alliance are next due to meet on April 1 where the group of producers will decide on May supplies.