UAE Oil Exports Near 2017 Highs as OPEC Exit and Postwar Rebound Test Global Markets
New Delhi, July 2 -- DUBAI - The speed of the UAE's oil export recovery should make the rest of OPEC+ nervous. Less than four months after pipeline attacks and Strait of Hormuz disruptions pushed the Emirates' crude output to barely 1.9 million barrels per day, the country is approaching volumes it last sustained in 2017, and it is no longer bound by any production ceiling that constrains its climb.
UAE crude exports rose roughly 30 percent last month to more than 3.9 million barrels per day, The National reported, approaching record levels the country last reached nearly a decade ago. Abu Dhabi routed crude through the Habshan-Fujairah pipeline rather than the Strait during the conflict, tapped the 42 million barrels held underground at...
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