ADNOC to trim oil output

ABU DHABI, October 3, 2017 – UAE Minister of Energy Suhail Al Mazrouei announced the country would cut oil production by 139,000 bopd, local media reported Monday.

ADNOC is set to reduce output by 15% for the Murban grade of crude, 10% for Das and 5% for Upper Zakum.

“The reduction approved by ADNOC comes in line with the UAE’s commitment to the OPEC decision,” Al Mazrouei said.

OPEC agreed to extend the global production cut agreement reached last year by a further 9 months in May.