UAE crude exports hit record high in June as ADNOC ramps up shipments
The UAE’s crude oil and condensate exports climbed to a record high in June, as production recovered from recent regional disruptions ADNOC increased shipments to customers across Asia, Europe, and Africa.
UAE Ambassador to the US Yousef Al Otaiba said, “After leaving OPEC and while navigating months of regional disruption, the UAE is now exporting at record levels when the world needs it most. That’s good news for global energy security.”
Ship-tracking data from Kpler and Vortexa showed that UAE crude and condensate exports stood at around 3.7 bpd in June, surpassing the previous record of 3.44 million bpd set in April in 2020 during the Saudi-Russia oil price war.
Matching prewar supplies
Oil exports from the country in early June had already recovered to nearly 85% of the prewar levels, according to the IEA.
Data also indicated that ADNOC had kept ferrying shipments out of the Arabian Gulf using its own fleet during the war, helping exports stay afloat.
According to Kpler Senior Oil Analyst Johannes Rauball, exports have now exceeded the 3.1-3.3 million bpd levels seen before the recent Middle East conflict.
“The rise can be attributed to multiple factors, including a resumption in flows via the Strait of Hormuz, helping to free trapped vessels,” Rauball said. “At the same time, we have been observing a ramp-up in supply from the UAE, which we estimate is closing in on prewar levels.”
He added that the UAE has also been drawing down crude inventories, further enhancing export volumes.
OPEC exit eases production pressures
The increase comes after the UAE formally exited OPEC on 1 May, ending nearly six decades of membership.
The country had earlier said the move would allow it to maximise the value of its hydrocarbon resources without being constrained by OPEC production quotas.
The export surge also follows weeks of disruption in the Gulf during the conflict involving Iran, when heightened security concerns around the Strait of Hormuz prompted ADNOC to implement additional measures to safeguard crude shipments.
According to trade sources, the company established a tanker shuttle system to move crude through the Arabian Gulf before transferring cargoes to larger vessels outside the highest-risk areas.
Vortexa Senior Oil Analyst Emma Li said Abu Dhabi crude loadings averaged 4 million bpd between June 1 and June 29, up from around 3.4 million bpd before the conflict.
Exports reached a record 3.7 million bpd, compared with approximately 3.3 million bpd during the first two months of the year.
Non-traditional markets grab UAE oil
While Asia continues to be ADNOC’s largest market, demand has also strengthened west of the Suez Canal, according to a source familiar with the matter.
Buyers in Africa, the US, Europe, and the Mediterranean have increased purchases in recent weeks.
Trade sources said ADNOC has supplied crude to Nigeria’s Dangote refinery as well as Turkish refiner Tupras, reflecting the company’s strategy of expanding its customer base beyond the usual Asian markets.
Emerging alternative routes
ADNOC has been investing heavily to raise sustainable crude production capacity to 5 million bpd, while increasing exports through infrastructure such as the Habshan–Fujairah pipeline, which enables crude shipments to bypass the Strait of Hormuz.
Through this, ADNOC has continued marketing additional crude cargoes, issuing its fifth spot tender of the month for Upper Zakum, Umm Lulu and Das crude grades.
The tender offers cargoes ranging from 500,000 barrels to 2 million barrels for loading between June and August.
