SINGAPORE: Abu Dhabi National Oil Co (ADNOC) has lowered its monthly export forecast for Murban crude from August to next May to increase processing at its own refinery, the company said.
ADNOC set its August export forecast of the light Murban grade at 1.705 million barrels per day (bpd), according to a company report on Saturday.
That is 65,000 bpd lower than the 1.77 million bpd forecast previously.
ADNOC also lowered the forecast for September 2025 to May 2026 by 100,000-177,000 bpd while keeping forecast volumes for June and July 2025 unchanged.
The reduction is primarily because of feedstock optimization and increased Murban processing at ADNOC’s Ruwais plant, it said in the report.
The company had been increasing Murban exports as a result of OPEC+ output increases that pressured crude prices.
The OPEC+ producer group comprising the Organization of the Petroleum Exporting Countries and allies such as Russia has agreed to increase production by nearly 1.4 million bpd between April and July.
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