OPEC's output cut to restrict supplies from ADNOC to BPCL in January

31-Dec-08
As a result of OPEC's (Organization of Petroleum Exporting Countries') 2.2 mln bpd oil output cut-its largest ever output curtailment-Abu Dhabi Nation Oil Company (ADNOC) will trim oil supplies to India's Bharat Petroleum Corp (BP). The Indian company buys about 40,000 bpd of crude from UAE's national company ADNOC. OPEC's decision to curb output was taken earlier this month in order to address the decline in oil prices.
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