Over the next five years, non-dilutive funding will play a crucial role in reconfiguring international trade flows and accelerating climate policies in the wealthiest nations. It will put pressure on other economies, including low-income countries, to cut their emissions more robustly. The EU will remain a lucrative market for crudes that generate low carbon emissions during the production process. Middle Eastern producers will look to maximize the value of their crude, which has low carbon emissions during production. In contrast, the MENA distillate exports, which have higher production emissions, will target under-supplied low-income countries in Africa and Asia.