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UAE Crude Exports Rise to 18-month in Jan

OIL

Crude and condensates exports from the UAE rose to their highest level since July 2022, driven by cargoes headed to Japan, according to Bloomberg.

  • Total observed exports rose by 11% on the month to 3.7m b/d, according to Vortexa.
  • This rebounds from the 3.32m b/d in December which was a four-month low.
  • Exports to China were at the highest level since June, up 16k b/d on the month to 0.841m b/d.
  • Meanwhile flows to Japan hit a three-month high to 0.952m b/d.
  • The UAE pledged a voluntary reduction of a further 160k b/d for Q1, giving it a production target of 2.912m b/d the first quarter of this year.

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