IEA Monthly Report: UAE Crude Oil Production Hits Record High in June

Golden Ten Data reported on July 10 that last month, the United Arab Emirates ramped up oil production to a historic high. This strongly demonstrates that, in the face of supply disruptions caused by the conflict in Iran, Abu Dhabi has taken bolder measures than any other neighboring country in the Persian Gulf. According to the International Energy Agency (IEA) monthly report, the UAE's average daily output in June reached 4.1 million barrels. This figure surpasses the previous peak of 4 million barrels per day, achieved in 2020 during a brief price war with Saudi Arabia over OPEC+ policies. Since the outbreak of the conflict, Abu Dhabi's aggressive strategy has become increasingly evident, ranging from deploying its vast domestic fleet to chartering additional vessels controlled by Korea's Sinokor Group (which now operates the world’s largest fleet of very large crude carriers). Many of these ships operate in a "shadow" manner—turning off digital responders to transport crude oil out of the Persian Gulf unnoticed. At the end of April, the UAE announced its withdrawal from OPEC, seeking to escape the organization’s production limits and pursue expansion plans. Most of this robust production rebound occurred before this week's wave of merchant ship attacks in the Strait of Hormuz.