Middle East Economic Survey

VOL. LII

No 9

2-Mar-2009

ADNOC Announces Further Cuts As OPEC Targets Greater Compliance

Abu Dhabis state-owned ADNOC announced on 26 February that it would cut its term allocations for April by a further 15-17%. ADNOC will ship 17% less volume of its Upper Zakum grade, while Murban, Lower Zakum and Umm Shaif will be reduced by 15%. The move is in accordance with OPECs decision to reduce production, ADNOC announced to customers. We trust that you will make every effort...