SEATTLE (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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Market 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.
