Adnoc to raise supply of crude grades in July

London:  Abu Dhabi National Oil Company (Adnoc) will raise the supply of all crude grades in July to its customers, the state oil company said yesterday.

Murban is the main export grade for the UAE, the world's third-largest oil exporter.

The UAE often changes supply levels to customers of its different grades, although these changes do not necessarily reflect a change in production.

They can also reflect sales from storage and customers loading quarterly, as well as monthly, allocations.

The UAE continues to pump around its Opec quota of 2.2-2.3 million barrels per day, industry sources said. Gulf Opec countries have adhered strictly to their quotas, while several Opec members elsewhere have informally increased output over the past year to take advantage of higher prices.

Adnoc plans to supply Murban crude at 3 per cent below contract volumes in July, up from a deeper cut of 12 per cent below contract volumes in June, it said in a statement.