UAE - Mubasher: The Abu Dhabi National Oil Company (ADNOC) will reduce its crude oil nominations by 5% in September for all grades, a source told Reuters.

The cut in crude grades, comprising Murban, Umm Lulu, Das, and Upper Zakum, is in line with the OPEC+ agreement to cut oil supplies by 9.7 million barrels per day.

It is noteworthy to mention that in early July, the company announced a rise in its oil exports for August, which indicated that OPEC and its allies prepare for easing up oil production cuts to 7.7 million barrels per day.