UAE's ADNOC cuts Oct crude allocation by 10% - source

OPEC and non-OPEC producers agreed on May 25 to extend the existing supply curb into 2018

Reuters News

August 28, 2017

DUBAI, Aug 27 (Reuters) - Abu Dhabi National Oil Company (ADNOC) has informed its customers of a 10 percent cut in crude oil allocations for October, an industry source familiar with the matter said on Sunday.

The cut comes as Gulf OPEC member the United Arab Emirates is working to improve its compliance with a global pact to reduce oil supplies. OPEC and non-OPEC producers agreed on May 25 to extend the existing supply curb into 2018. (Reporting by Rania El Gamal; editing by Susan Thoma)