The IEA says UAE June crude production averaged 4.10 mln b/d, a record above the
4.00 mln b/d peak reached in 2020 during its brief price war with Saudi Arabia.
The report frames Abu Dhabi’s response as bolder than any Persian Gulf peer in
offsetting supply disruptions linked to hostilities involving Iran. Measures
cited include deploying a large national tanker fleet and chartering additional
vessels from South Korea’s Sinokor, which now operates the world’s largest VLCC
fleet; many ships reportedly ran with AIS transponders off to move crude out of
the Gulf. The UAE announced its exit from OPEC at end-April to remove output
constraints and pursue expansion; most of the recent production ramp-up occurred
before this week’s attacks on merchant vessels in the Strait of Hormuz.
