Crude exports from the UAE are consistently averaging more than 3mn b/d for the first time since early 2020, as the easing of Opec+ cuts has enabled production increases. Exports have exceeded the mark for the past four months according to Kpler, including 3.15mn b/d for July and September (see chart 1).
UAE Exports: Upper Zakum Soars, Murban Steady
Exports of Adnoc’s Upper Zakum exports have jumped as a refining switch freed up volumes for export. Despite more Murban being refined domestically, increased production means exports of the grade have been robust.
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Charts
1: UAE Crude Exports Consistently Above 3mn b/d In Recent Months (mn b/d)
2: Transfers Of Upper Zakum To Ruwais West Refinery Collapse In September ('000 b/d)
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