Abu Dhabi – Mubasher: The UAE's minister of energy Suhail Al Mazrouei on Monday said, via his Twitter account, that the Abu Dhabi National Oil Company (ADNOC) announced monthly nomination cuts throughout 2017 in line with the UAE’s commitment to the decision taken by the Organization of Petroleum Exporting Countries (OPEC) to reduce oil production.

“In October, ADNOC will cut 10% from its Murban, Das and Upper Zakum term agreements”, Al Mazrouei said.

OPEC members and independent producers reduced their production levels in the first half of 2017 by 1.8 million barrels in an effort to re-stabilise the oil market.

Earlier in May, OPEC’s meeting in Saint Petersburg reviewed output data for June and decided to extend the output reduction period for another nine months, to end March 2018.