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عربي21
UAE Leads Oil Transit via Strait of Hormuz
Bloomberg has revealed that the United Arab Emirates has experienced an unprecedented increase in oil exports passing through the Strait of Hormuz over the past two months, surpassing the shipment volumes of any other producing country. This is attributed to an innovative marketing campaign conducted by ADNOC, which included the sale of more than 130 million barrels since early June through seven auctions. Additionally, oil transport operations resumed after suspending tracking devices. These actions are highly significant as they have contributed to stabilizing oil markets, reducing the likelihood of supply shortages and price surges. Furthermore, the UAE succeeded in restoring its maritime oil export levels to pre-war figures during June and July. It also sent liquefied natural gas shipments and heavily invested in logistics by chartering vessels at high costs to ensure the continued export through the Strait of Hormuz.
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