business ⛽ UAE keeps oil flowing despite Hormuz Strait issues ⛽
The UAE has successfully pushed its oil exports back to pre-crisis levels as early as June. This was achieved by the UAE, which departed from OPEC on May 1, by finding smart workarounds for the Strait of Hormuz blockage. Vessel tracking data shows the UAE shipped more crude through Hormuz than any other Gulf producer in June and July. Furthermore, ADNOC issued its seventh tender since June, planning to sell millions of barrels between August and October. The UAE's production hit a record 4.1 million bpd in June, showing strong adaptation efforts.