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ADNOC to cut 2024 Upper Zakum oil supply to some term buyers – sources

Friday, 10 November 2023 | 01:00

Abu Dhabi National Oil Company (ADNOC) ADNOC.UL has notified some term customers that it will reduce the volume of Upper Zakum crude oil supply in 2024, three sources with direct knowledge of the matter said on Thursday.

The move could affect supplies to China, the world’s top crude importer as well as the biggest lifter of Upper Zakum crude.

It is not immediately known how much volume of the medium-sour grade ADNOC will reduce for existing customers, they added.

ADNOC did not provide a reason for the reduction, the sources said.

The producer could not be immediately reached for comment.
Source: Reuters (Reporting by Muyu Xu and Florence Tan, Additional reporting by Yousef Saba; Editing by Muralikumar Anantharaman)

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