Minister Al Mazrouei says UAE oil exports exceeded pre-war levels — The National

UAE Minister of Energy and Infrastructure Suhail Al Mazrouei said in Abu Dhabi that during certain periods, the country’s oil exports exceeded pre-war levels despite shipping disruptions through the Strait of Hormuz. He made the remarks during the ADIPEC conference, The National reports.

According to the minister, the Emirates sought to prevent a sharp rise in commodity prices and partially offset reduced supplies from other countries. Al Mazrouei did not specify which periods saw exports exceed pre-war levels or what their volumes were.

Export decline and recovery

Kpler data cited by the publication show that in June, the UAE exported 3.94 million barrels of crude oil and condensate per day, the highest monthly figure of the previous year. In March, when the blockade of the Strait of Hormuz reduced exports, the volume fell to a record low of 2.13 million barrels per day.

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Al Mazrouei said that the readiness of the fleet and vessels, as well as the Habshan–Fujairah pipeline, known as the West–East pipeline, helped sustain supplies. It makes it possible to transport up to 1.5 million barrels of oil per day bypassing the Strait of Hormuz.

Pipeline expansion

In May, the UAE announced an expansion of the West–East pipeline, which it plans to complete by 2027. The project is expected to double export capacity through Fujairah.

According to The National, oil prices remained volatile: Brent traded near $110 per barrel, while West Texas Intermediate was at about $100 per barrel. In March, the price of Brent exceeded $120 per barrel.