Adnoc committed to Opec’s output cuts agreement

ABU DHABI: The Abu Dhabi National Oil Company (Adnoc), in line with the recently agreed oil production cut resolution adopted by Opec, is undertaking the necessary steps to implement cuts, and will inform its customers early next week about any potential change in their crude allocation for January 2017.

In a statement, Adnoc said, “Any reduction in uptake will be planned, and undertaken, in coordination with Opec, following its ministerial meeting, which was held on November 30, 2016, and stipulated that each member state should adhere to a specified oil output cut.”