Oil Report

FACTBOX-OPEC members' compliance with output cuts

 Date: March 24
 Required cut: 380,000 bpd
 Reported cut: Abu Dhabi National Oil Co (ADNOC) said it
would supply 15 percent below contracted volumes of Murban,
Lower Zakum and Umm Shaif crudes in May, the same as April,
while supplies of Upper Zakum will be cut by 10 percent versus
a 17 percent cut in April.
 Source: ADNOC
 News: UAE to boost Upper Zakum crude supply, others steady
 Date: Jan 7
 Required cut: 360,000 bpd
 Reported cut: Venezuela reduced crude shipments to U.S.
refineries Chalmette and Sweeney, as well as other foreign oil
 Source: Energy Ministry
 News: Venezuela reducing oil to U.S. refineries on OPEC cut
 - OPEC member Iraq has no quota.
 - Indonesia left OPEC at the end of 2008.
 * Includes 2 million bpd of existing cuts plus 2.2 million
bpd of new cuts agreed on Dec. 19 effective from Jan. 1