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Abu Dhabi cuts Jan crude supply to Asia after OPEC

  Abu Dhabi National Oil Co (ADNOC) has notified at least two Asian lifters that it will cut term crude oil supplies in January, traders said on Thursday, following OPEC’s decision last week to cut output to stem oil’s slide.

ADNOC will reduce allocations for the distillate-rich Murban crude by 15% from contracted volumes in January, and lower supply for Upper Zakum by 3% for the same month, the traders said.

Abu Dhabi, the main oil producer for the United Arab Emirates, an OPEC member, has told Asian lifters that it would cut its option to lift 5% above term volumes for these two oil grades, they added. (Reuters)