Abu Dhabi National Oil Company ADNOC has issued its seventh tender offering crude from the United Arab Emirates since the beginning of June, expecting to sell millions of barrels of oil between August and October, both from within and outside the Persian Gulf. ADNOC is estimated to have sold more than 74 million barrels of crude to buyers in the previous tenders since early June, by running a kind of shuttle service to ship crude onto tankers outside the Strait of Hormuz. In the seventh tender, the Abu Dhabi oil producer will automatically reject any bid from buyers at a discounted differential, according to Reuters’ sources. Just before the return of hostilities in the Middle East, the UAE was estimated to have produced 4.1 million barrels per day (bpd) of crude oil in June, its highest output ever. By Charles Kennedy for Oilprice.comMore Top Reads From Oilprice.com