The UAE's oil exports have recovered, reaching 85% of pre-war levels, helping to curb soaring oil prices.

The IEA reports that the UAE can restore oil exports to nearly 85% of pre-US-Iran conflict levels, utilizing pipelines, reserves, and alternative transport routes.

June 24, 2569 at 05.19:XNUMX a.m. Bloomberg News reported that The United Arab Emirates (UAE) has been able to restore crude oil exports to nearly 85% of pre-US-Iran conflict levels since early June. Even though the United States and Iran had not yet signed a provisional peace agreement at that time, they relied on using alternative oil pipelines, reserves, and transport routes to avoid the impact of tensions in the Strait of Hormuz.

A report by the International Energy Agency (IEA). specify that The UAE's oil exports in early June stood at 4.3 million barrels per day, a significant increase from 1.9 million barrels per day in March, shortly after the outbreak of war.

A key factor in helping the UAE maintain its exports is the use of oil pipelines connecting production sources to the port of Fujairah, located off the Strait of Hormuz, as well as the use of the Mandous underground oil storage facility with a capacity of 42 million barrels near the port.

In addition IEA also stated that The UAE is increasing exports through the Strait of Hormuz by disabling transponders during certain periods of transit to avoid detection during shipping operations.

Throughout the war, the UAE's Abu Dhabi National Oil Co. (ADNOC) continued to ship oil and natural gas out of the Persian Gulf. Using its own fleet, the company was able to pass inspections by both the Iranian navy and US warships to deliver energy to customers in global markets facing shortages.

ADNOC has become one of the most active energy exporters in the region, frequently using smaller tankers to transport oil through the Strait of Hormuz, a strategy to mitigate the impact of the global oil supply crisis.

These measures have played a crucial role in preventing a sharp rise in oil prices, as many had feared. Previously, some analysts predicted that oil prices could soar to $200 per barrel if shipping through the Strait of Hormuz were completely disrupted.

However, the continued partial flow of oil exports through the Strait of Hormuz, coupled with record-high U.S. oil exports and a greater-than-expected slowdown in Chinese oil demand, helped alleviate the tension in the global energy market.

Currently, oil prices have returned to near pre-war levels after the United States and Iran signed a temporary peace agreement, and shipping volume through the Strait of Hormuz has begun to recover, although some ships still choose to disable their tracking signals when navigating through the area.

refer : www.bloomberg.com

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