Abu Dhabi state firm Adnoc announced on 11 March that it is “in a position to supply the market with over 4mn b/d in April,” as the UAE shifts behind the Saudi position in the accelerating price war (MEES, 13 March).

This 4mn b/d figure is more than MEES’, and other observers’, calculations of current Adnoc output capacity, indicating that Adnoc would lean on crude inventories to close the gap. (CONTINUED - 397 WORDS)