The United Arab Emirates' ADNOC has informed Asian buyers of crude it would ship 5% lower volumes to them this month, possibly as a result of the additional OPEC+ production cuts announced last month. For June and July, however, ADNOC told buyers it would supply full volumes, Reuters reported, citing unnamed sources familiar with developments. One source, however, noted that "We may see less loading from ADNOC from May onwards." The additional production cut of 1.16 million bpd was agreed to stay in effect until the end of the year. OPEC+ agreed…
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