UAE Raises Crude Production to Record 4.1 Million Barrels a Day in June
The International Energy Agency said the United Arab Emirates produced a record 4.1 million barrels a day of crude oil in June. Abu Dhabi National Oil Co. has issued six spot crude tenders since the start of the month, offering cargoes of Upper Zakum, Umm Lulu and Das for August and September loading.
Bloomberg reported the increased supply, alongside production increases from OPEC+ members and the United States, weighed on markets and pushed U.S. crude below $72 a barrel. Despite the spot price decline, the futures curve remains in backwardation.
From the sources (14 posts)
@businessThe UAE boosted crude oil production to an all-time high last month
@financialjuiceOil demand y/y drop eases to 1.7m b/d in 3Q from 4.8m in 2Q - IEA
@financialjuiceOil demand to decline by 1m b/d y/y in 2026 - IEA
@financialjuiceGlobal oil supply rebounded by 4.1m b/d m/m in June - IEA
@financialjuiceTotal persian gulf oil exports jumped 6.5m b/d m/m in June - IEA.
@firstsquawkOIL SUPPLY IS EXPECTED TO DROP BY AN AVERAGE OF 3.7 MILLION BARRELS PER DAY IN 2026, ACCORDING TO THE IEA.
@firstsquawkOIL TRANSIT THROUGH HORMUZ INCREASED BY 5.5 MILLION BARRELS PER DAY MONTH-OVER-MONTH IN JUNE, ACCORDING TO IEA.
@financialjuiceUAE oil output hit record high of 4.1m b/d in June - IEA.
@financialjuiceOECD oil stockpiles fell by 62m bbl in June - IEA
@philippilk
@dlacalle_iaRT @JavierBlas: BOOM: @IEA says UAE lifted its crude production to a **record high** of 4.1 million barrels a day in June (including conden…
@dlacalle_iaEnergy prices decline and US crude falls below $72/barrel as news of record supply from the UAE and production hikes from OPEC+ and the United States reduce geopolitical concerns. The futures curve remains in backwardation despite the rece
@staunovoUAE state oil giant ADNOC is offering spot crude in a tender, its sixth issued since the start of June as the Gulf producer continues to raise exports, according to sources and a tender document reviewed by Reuters on Friday. ADNOC offered
@zerohedgeUAE OIL OUTPUT HIT RECORD HIGH OF 4.1M B/D IN JUNE, IEA SAYS