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UAE to cut oil supplies to Asia under Opec deal; Kuwait, Oman to follow

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Published Tue, Dec 13, 2016 · 09:50 PM

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Dubai

ABU Dhabi National Oil Company (ADNOC) on Tuesday said it would cut crude supplies by 3-5 per cent across its three export grades to meet commitments under an Organization of the Petroleum Exporting Countries (Opec) deal to curb output.

The move is one of the first visible indicators that oil markets could be physically tighter in 2017 as Opec and other producers cut production to ease a supply glut and prop up prices.

Opec

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