UAE has met OPEC pledge to cut oil supply-oil min

ABU DHABI, Nov 3 - The United Arab Emirates has met its pledge to cut oil supplies in line with its OPEC commitments, Oil Minister Mohammed al-Hamli said on Monday.

"We have fulfilled completely our cuts," he told Reuters at an oil and gas conference in Abu Dhabi.

The Organization of the Petroleum Exporting Countries agreed at an emergency meeting last month to cut output by 1.5 million barrels per day (bpd) or about 5 percent starting from November to stop a plunge in oil prices that have more than halved since July and lost 32 percent in October alone.

The Abu Dhabi National Oil Co (ADNOC) notified its term customers last week that it would cut its contracted volumes for it main export grades by 5 to 15 percent in December, and cut its Upper Zakum crude by 5 percent starting from November.

Industry sources say Kuwait and Nigeria have also informed customers of immediate supply cuts, but top produer Saudi Arabia has yet to notify its lifters of curbs.