Reuters quoted a source familiar with the matter, as citing that Abu Dhabi National Oil Co (ADNOC), the state-run oil company of the United Arab Emirates (UAE), has not announced a nomination cut for its crude oil exports to customers for August.
Additional Headlines:
Stands ready to raise its oil production in coordination with OPEC, non OPEC monitoring committee.
Has the ability to increase oil production by several hundred thousand barrels of oil per day, should this be required to help alleviate any potential supply shortage in the market.
Oil production capacity of 3.3mln bpd currently – remains on track to increase its production capacity to 3.5 million bpd by the end of 2018.
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