UAE tops Gulf oil exports in June

Recent data showed that Gulf oil exports increased by more than 3 million barrels per day in June compared to May, surpassing 10 million barrels daily, although they are still 40% below pre-war levels. The UAE led this growth, enabling the release of stuck oil inventories and boosting production, while oil prices were reduced to pre-conflict levels. Additionally, the agreement between the United States and Iran helped clear the backlog of stranded oil, resulting in increased flows through the Strait of Hormuz and higher exports from Saudi Arabia, Iraq, and Kuwait. However, current levels remain below last year's figures.

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