U.A.E. Pledges Further Oil Output Cuts Starting in September
- Gulf nation will reduce loadings of three crude types by 10%
- Move follows Saudi criticism of OPEC’s supply-cut laggards
OPEC's Barkindo Says Monitoring Framework Is Working
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The United Arab Emirates reiterated its commitment to the OPEC agreement on production cuts and said it would deepen its own curbs.
The Abu Dhabi National Oil Co.’s shipments of Murban, Das and Upper Zakum crudes will be 10 percent lower from September, Minister of Energy Suhail Al Mazrouei said in a tweet on Tuesday. “The U.A.E. is committed to its share in the OPEC production cut,” he said.