State Abu Dhabi National Oil Co. (Adnoc) informed buyers Tuesday that it would ease its supply cuts on term allocations of most grades to Asia for March-loading cargoes. The Opec supplier would reduce allocations on its key Murban crude by 10% below contracted volumes, instead of 13% for February cargoes. It would also ease supply cuts on Lower Zakum and Umm Shaif to 10%, versus 15% in the previous month. Meanwhile, supplies of Upper Zakum would be subject to a bigger cut of 15%, higher than the earlier 10% cut on February cargoes.
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