UAE Cuts Crude Shipments to Partners

AI Summary

ADNOC has reduced crude oil volumes for its onshore partners by approximately 20% for the current month. Despite the reduction, shipments will continue through a port outside the largely closed Strait of Hormuz, reflecting ongoing tensions in the region.

ADNOC cut the volume of crude for its onshore partners by about a fifth for this month, although the flows will still go to a port outside the all-but-shuttered Strait of Hormuz.