ADNOC cuts murban allocations by 10% for July
ABU DHABI - QNA
Abu Dhabi National Oil Company (ADNOC) has announced that it will cut allocations to customers by 10% for July 2011 shipments from Murban crude only. The move underlines the UAE''s compliance with the decision of the Organization of Petroleum Exporting Countries (OPEC) to reduce production, the company said in a statement issued here Thursday and carried by Emirates WAM news agency. The cut in Murban only signals an improvement in world oil demand.
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