UPDATE 1-Murban crude listing will not impact OPEC cuts compliance -UAE energy min - Reuters:
United Arab Emirates’ Minister of Energy Suhail al-Mazrouei said on Tuesday that he sees no conflict between his country’s compliance with OPEC output cuts and plans to list Murban crude oil by the Abu Dhabi National Oil Co (ADNOC).
Intercontinental Exchange Inc will next year launch a new exchange in the UAE to list ADNOC’s flagship Murban crude grade.
Mazrouei said the UAE remains committed to cuts agreed by the Organization of the Petroleum Exporting Countries, plus allies led by Russia. These countries have since January implemented an agreement to cut output by 1.2 million barrels per day (bpd) which lasts until March 2020 in an attempt to boost prices.
No comments:
Post a Comment