ADNOC offers more oil to partners in countdown to OPEC+ meet, sources and report say

Core Viewpoint - Abu Dhabi National Oil Company (ADNOC) is set to increase exports of its flagship Murban crude in April, adding to the existing supply from Middle Eastern producers ahead of the OPEC+ meeting [1] Group 1: ADNOC's Supply Increase - ADNOC has offered additional volumes of Murban crude to its partners in the onshore concession, although the exact amount of extra supply remains unclear [1] - Partners in ADNOC Onshore, including BP, TotalEnergies, China National Petroleum Corp, Inpex, Zhenhua Oil, and GS Energy, are entitled to approximately 40% of the production, which is around 2 million barrels per day [1] Group 2: OPEC+ Context - The increase in oil production from both Saudi Arabia and the UAE is part of a contingency plan in response to potential disruptions in Middle Eastern supplies due to geopolitical tensions [1] - OPEC+ is expected to consider raising oil output by 137,000 barrels per day for April after previously suspending production increases in the first quarter [1] Group 3: Market Impact - The rise in Murban's supply has led to a decrease in crude's spot premiums, which fell below $2 per barrel for Dubai quotes for cargoes loading in April [1]