UAE Exits OPEC+ as Crude Oil Exports Reach Record High

BlockBeats News, June 30th, preliminary vessel tracking data from Kpler and Vortexa shows that shortly after exiting OPEC, the UAE boosted its crude oil and condensate exports to a record high in June.

Kpler's Senior Oil Analyst Rauball stated that the UAE's average crude oil and condensate exports this month were around 3.7 million barrels per day, hitting a historical peak and significantly higher than the pre-Middle East conflict levels of 3.1 to 3.3 million barrels per day. The UAE's previous export peak was in April 2020, reaching 3.44 million barrels per day during the brief oil price war ignited by Saudi Arabia and Russia.

Vortexa's Senior Oil Analyst Emma Li said that from June 1st to the 29th, crude loadings in Abu Dhabi reached 4 million barrels per day, surpassing the pre-war level of 3.4 million barrels per day. Export volumes also rose to a historical high of 3.7 million barrels per day, compared to 3.3 million barrels per day in the first two months of this year.