The United Arab Emirates (UAE) plans to boost exports of Abu Dhabi's flagship Murban crude in early 2024 as part of a new OPEC+ mandate. Increased output of light sweet crude grades from various countries, coupled with refinery maintenance in Abu Dhabi, is expected to impact global price benchmarks, including Brent and West Texas Intermediate. The move follows the UAE's commitment to higher production under OPEC+ agreements, and the surplus supply may contribute to a slight surplus in global oil markets by 2024.

SOURCE: GOOGLE