The Abu Dhabi National Oil Company (ADNOC) informed its importers that it will cut its oil supply by 10 percent as of February 2002, reported Al-Hayat. Company sources revealed that the United Arab Emirates (UAE) government instructed ADNOC to reduce its oil production in accordance OPEC decisions. In a meeting held last September, OPEC decided to lower its oil output by 1.5 million barrels per day as of the beginning of 2002. — (menareport.com)
© 2002 Mena Report (www.menareport.com)
