The United Arab Emirates posted its highest-ever crude oil and condensate exports in June, with vessel-tracking data showing volumes averaged about 3.7 million barrels per day amid stronger production, improved shipping through the Strait of Hormuz and rising global demand.
MONTREAL (Oil Monster): The United Arab Emirates (UAE) recorded its highest-ever crude oil and condensate exports in June, driven by robust production, improved shipping activity, and rising international demand. According to preliminary vessel-tracking data, exports averaged about 3.7 million barrels per day (bpd) during the month, surpassing previous records.
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Hormuz Oil Exodus Sets Stage for Chaotic Rebalancing Act Oil Climbs Following Renewed U.S.-Iran Strikes in the Middle EastMarket analysts said export volumes have risen significantly from the 3.1–3.3 million bpd range seen before recent geopolitical tensions in the Middle East. The country had recently ended its long-standing membership in OPEC, allowing it to manage its oil production with greater flexibility. The recovery of shipping through the Strait of Hormuz also played a major role.
According to Vortexa data, Abu Dhabi's crude loadings reached around 4 million bpd between June 1 and June 29. Asian customers remained the largest buyers of Abu Dhabi National Oil Company (ADNOC) oil. The demand from Europe, the Mediterranean, Africa, and the U.S. West Coast also witnessed significant improvement.
The Abu Dhabi National Oil Company (ADNOC) reportedly supplied crude to Nigeria's Dangote refinery for the first time, importing 2 mmbl of crude oil. Additionally, it sold cargoes to Turkey's Tupras.
Preliminary vessel-tracking data indicate the UAE exported about 3.7 million barrels per day of crude and condensate in June, its highest monthly level on record.
Export volumes rose from the 3.1–3.3 million bpd range seen before recent Middle East geopolitical tensions, reflecting stronger production and shipping conditions.
After ending its long-standing membership in OPEC, the UAE gained more flexibility to manage its oil production, which helped support higher export levels.
Asian customers remained the largest buyers of ADNOC oil, while demand from Europe, the Mediterranean, Africa and the U.S. West Coast also improved.
ADNOC reportedly supplied 2 million barrels of crude to Nigeria’s Dangote refinery for the first time and sold cargoes to Turkey’s Tupras.
