UAE record exports lift Middle East oil shipments above 10 mln bpd

UAE record exports lifted Middle East oil shipments above 10 million barrels per day in June as recovery through the Strait of Hormuz improved, according to shipping and analytics data cited by Reuters. Exports of crude and condensate from Saudi Arabia, the UAE, Kuwait, Iraq and Iran rose by more than 3.5 million barrels per day from May to 10.07 million bpd, with Kpler reporting and Vortexa estimating June at 10.2 million bpd versus 7 million bpd in May. The rebound followed a June 17 U.S.-Iran agreement to halt the conflict and restore shipping, clearing a backlog after floating storage peaked at 96 million barrels in late April. The UAE posted record crude exports of 3.7–3.8 million bpd, more than 1 million above May levels. Shipbroker BRS said 98 tankers crossed June 22–28. Saudi exports rose to 4.52 million bpd, while Iraq and Kuwait recovered to about 800,000 bpd each.