UAE Pumps 3.8 Million Bpd, Defying OPEC+ Quotas
India Could Return To Iranian Crude If U.S.
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The United Arab Emirates raised its crude output to near record highsabove 3.8 million barrels per day in June,after the Gulf nation quit OPEC to escape production caps,Reuters reportedciting two sources familiar with production data said on Monday.
Bloomberg data showed even higher UAE exports, rising to 3.94mmb/d, just shy of the record hit in late 2025.
June's output was thehighest since April 2020,according to Reuters estimates, exceeding levels seen before the Iran war and providing an early vindication of the UAE's decision to leave OPEC and OPEC+ on May 1 to free production from quota restrictions.
The UAE told OPEC it pumped 2.11 million bpd of crude in May at the height of the conflict shut-ins, down from about 3.40 million bpd in February.
The International Energy Agency, however, assessed a much higher production level for both months,seeing May output at 2.8 million bpd and February at 3.64 million.
Underscoring the supply surge, Abu Dhabi National Oil Company (ADNOC) has been selling crude through tenders at discounted prices, traders told Reuters. The rebound has outpaced that of other Gulf producers, many of whom have restored exports through the Strait of Hormuz but remain well below pre-conflict production levels.
Abu Dhabi has argued that years of investment in production capacity justified greater freedom to produce oil, with Energy Minister Suhail al-Mazrouei saying at the time of the OPEC exit that the UAE owed it to investors to supply what global markets required "without restrictions".
The jump in output comes as oil markets have shifted from concerns over severe supply disruptions during the Iran war, to worries about surplus supply. Brent crude, which hit a four-year high above $126 in late April, was trading at about $72 a barrel on Monday, around levels seen before the outbreak of the Iran war in late February.
Other Gulf nationsalso saw a surge in output: combined crude and condensate exports from Saudi Arabia, the UAE, Kuwait, Iraq and Iranrose by more than 3.5 million bpd from May to 10.07 million bpd,Kpler data shows. Vortexa, another cargo analytics company, estimated June flows at 10.2 million bpd, up from 7 million bpd in May but still way short of the 16.5 million bpd a year earlier.
Saudi crude exports averaged 4.32 million bpd in June, according to Vortexa data, around 3 million bpd below February levels.Kuwaiti output rose to 1.65 million bpd in June, roughly triple May levels but still nearly 1 million bpd short of pre-conflict production.Iraq, OPEC's second-largest producer, exported about 780,000 bpd in June, roughly one-fifth of volumes shipped before the conflict, Vortexa data showed.
| Product | Price | Change |
|---|---|---|
| Brent Crude | $102.14/bbl | +0.34% |
| WTI Crude | $96.90/bbl | +0.21% |
| EN590 Diesel | $846/MT | +0.18% |
| Jet Fuel A-1 | $1090/MT | +0.55% |
| Mazut M100 | $450/MT | -0.15% |
| Bitumen 60/70 | $470/MT | +0.08% |
| Sulphur Gran 99.5% | $470/MT | -0.44% |
| Urea 46% Gran | $650/MT | +1.12% |
| NPK 16-16-16 | $460/MT | -0.28% |
| Nat Gas TTF | $15.42/MMBtu | +0.92% |
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