Middle East Economic Survey


No 22


ADNOC Cuts In July Crude Allocations Held At 18%

Abu Dhabi National Oil Company (ADNOC) on 28 May announced to its customers that July allocations for Murban, Lower Zakum, Umm Shaif and Upper Zakum crudes would be maintained at 18% below full contract volumes. ADNOC said the cut was being made in accordance with the OPEC decision to reduce production. It added that cargoes would be treated at Max/-5% tolerance loading basis.