Middle East Economic Survey


No 27


UAE And Qatar Adjust Far East Crude Allocations For August

Abu Dhabi National Oil Company (ADNOC) will reduce its crude allocations to Far East customers to 19% below full contract volumes during August, compared with 18% in July. The reduction affects the Murban, Lower Zakum, Umm Shaif and Upper Zakum crudes and is in line with OPECs policy to eliminate excess crude supply to the market. The UAE produced 2.22mn b/d during May, according to ...