UAE to Boost Murban Crude Exports as Higher OPEC+ Quota Kicks In
One of the biggest oil exporters in the Middle East, the United Arab Emirates, is set to increase from 2024 the exports of its flagship Murban crude grade as the UAE will see its production quota in the OPEC+ deal increased, traders have told Reuters. Refinery maintenance in the UAE in early 2024 is also set to release more Murban barrels for exports, according to the traders and Reuters data. The higher availability of Murban next year is weighing down on the crude grade’s spot prices and will further raise the global supply of light sweet…