UAE to ease January crude oil cuts to term buyers: Reuters

Abu Dhabi National Oil Company (ADNOC) has informed some term buyers that it will raise crude supply from January. However, it will still deliver less than the contractual volumes, three sources familiar with the matter told Reuters on Tuesday. Report inforrms citing the Reuters.

The supply of its flagship Murban crude grade will be reduced by 20%, while the volume of two other grades - Upper Zakum and Das - will be cut by 15%, the sources said.

ADNOC will also trim the supply of Umm Lulu crude grade by 5% in January, one of the sources said.

The January term crude oil supply cut was smaller than a roughly 20% overall reduction by ADNOC in December.
ADNOC declined to comment.