Adnoc makes deeper cuts for September term exports

摘要

Abu Dhabi's Adnoc has informed term customers that it will implement cuts of around 15pc to nominations for all its crude exports loading in September,even as the Opec+ coalition considers relaxing its production quotas.The 15pc reduction will apply to September-loading shipments of light sour grades Murban,Umm Lulu and Das Blend,and medium sour Upper Zakum,Asian refiners say.It is unclear why Adnoc has decided to deepen its cuts in September compared with August,with August term nominations due to be cut by 5pc.