UAE To Curb Supply To Asian Buyers ...Middle East

OILPRICE - Economy

Emirati state oil company ADNOC has reduced its planned shipments of crude oil to Asia by 10-15 percent for June, Reuters has reported, citing unnamed sources familiar with the matter. ADNOC earlier said it will curb supply to Asian buyers for May by 5 to 15 percent as part of its production control obligations under the OPEC+ deal. Also, Asian buyers still have ample supply in storage and are drawing from it while prices are high. Maintenance season in many Asian refineries is helping keep demand in check, too. Interestingly enough, the news comes…

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Last updated : 26 March 2021 clock 05:16 PM

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UAE To Curb Supply To Asian Buyers ...Middle East

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