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UAE oil capacity, Egypt FX restrictions, Saudi-rupee trade

The UAE is seeking to raise oil production capacity more aggressively than previously planned as it aims to get ahead of peak oil demand and capture oil market share. Elsewhere, Saudi Arabia also seems to be aiming for market share amid reports that it plans to accept Indian rupees for exports. And finally, Egypt’s central bank eased restrictions on access to foreign currency to alleviate a backlog of imports stuck at ports and is a further step towards a more flexible and weaker pound.

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