*Days after securing an increased Opec+ quota from May 2022 onwards, Adnoc has announced a massive upwards revision of the planned availability of its flagship Murban crude export grade.
Ever since Abu Dhabi state firm Adnoc launched its Murban crude futures contract in March, a key area of concern for many market participants has been how it will be affected by the UAE’s Opec membership. For any futures contract to succeed, transparency and liquidity are essential, but this can be hard to guarantee when Opec membership mandates periodic production caps. (CONTINUED - 818 WORDS)
