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UAE Oil Exports Drop to Lowest in a Year

OIL

Crude and condensate exports from the UAE dropped for a third month in April, driven by a decline in cargo exports to the Far East, according to Bloomberg.

  • Total observed crude and condensate exports were down 2.1% on the month to 3.46m b/d in April.
  • Under the OPEC+ agreement, the UAE’s output target was 2.91m b/d for April, including a voluntary cut that is extended until June.
  • Exports to China were down 106k b/d on the month to 0.717m b/d.

Source: Bloomberg

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