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Market Chatter: Adnoc Said to Plan Crude Supply Cuts to Asia in August, September

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Abu Dhabi National Oil Co., or Adnoc, is set to cut crude supplies to Asian buyers by 5% in August and September, Bloomberg News reported Wednesday, citing people familiar with the matter.

The people said that the cut only applies to spot market cargoes purchased over-the-counter, while a separate source said it is due to scheduled maintenance at Abu Dhabi's onshore oil fields.

The Abu Dhabi state-owned oil group said it does not comment on commercial matters in response to a request for comment from.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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