UAE allowed to increase supply of oil under terms of current deal.

20 Nov 2023 13:30Energy
  • The key OPEC member is poised for a 2024 output boost on quota change.
  • The UAE will increase its output target to 3.075 million barrels per day in January, or approximately 135,000 barrels per day more than it pumped last month.
  • Abu Dhabi won the concession at the group's most recent meeting in June, arguing that long-standing production limits failed to account for capacity additions made in recent years.