The UAE’s neutrality in the Ukraine conflict is enabling it to capitalize on the ongoing generational reshaping of global energy flows. Its role as a major global oil trading and storage hub has grown massively in 2022, and it is well placed to build on the momentum. The Middle East, and the UAE in particular, is emerging as a new fulcrum of global oil trade.
UAE Trading Hubs: Big Winners From 2022’s Oil Market Turbulence
Business is booming in Fujairah and Dubai as new global trade flows coalesce around the two emirates. Traders are decamping en masse from Geneva to Dubai, while Fujairah storage is fully booked. Market participants expect the momentum to build further.
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IN THIS ARTICLE
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Russian Oil* Arrivals At Fujairah Have Soared Since The Late-February Ramp-Up Of Conflict In Ukraine, With Fuel Oil Dominant (‘000 b/d)
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Fujairah Oil Storage Facilities And Refineries
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