SME Times News Bureau | 29 May, 2010
Abu Dhabi National Oil Company (ADNOC) has announced plans to cut oil production in July.
The cuts from ADNOC's four major oil fields included: Murban three percent, Lower Zakum five percent, Umm Shaif five percent and Upper Zakum 10 percent, the company said in a statement Thursday.
ADNOC said the move is in line with the decision by the Organisation of the Petroleum Exporting Countries (OPEC) to reduce production.
