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ADNOC to ease output cuts in April

ADNOC to ease output cuts in April
Abu Dhabi National Oil Company (ADNOC) - (Photo Archive)

Mubasher: Abu Dhabi National Oil Company (ADNOC) is expected to increase crude shipments next month, Reuters reported, citing Asian refiners.

ADNOC reportedly plans to ease output cuts by 5% in April, compared with curbs of 10-15% in March.

On Thursday, members of the Organization of the Petroleum Exporting Countries (OPEC), including the UAE, alongside other major producers that form an alliance known as OPEC+, will hold their monthly meeting to discuss production policy.

It is expected that output curbs will be reduced with the global oil market showing recovery signs, as evident by the recent increases in crude prices. Sources cited by Reuters said that OPEC+ could raise production by 500,000 barrels starting April.