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