UAE has achieved record oil exports following its exit from OPEC, according to ship-tracking data.

The United Arab Emirates set a new record for crude oil and condensate exports in June, as indicated by preliminary ship-tracking data from Kpler and Vortexa, shortly after exiting OPEC.

The UAE decided to end nearly 60 years of OPEC membership on May 1 in response to the ongoing U.S.-Israeli conflict with Iran, aiming to enhance the value of its resources without being restricted by the group's production quotas.

In light of Iran's control over the Strait of Hormuz, the Abu Dhabi National Oil Company (ADNOC) established a tanker shuttle service for exporting crude, using vessels with transponders turned off to mitigate attack risks while navigating the Gulf. This strategy has reportedly helped these vessels avoid assaults, according to trade sources and experts.

In June, crude and condensate exports from the UAE averaged around 3.7 million barrels per day, marking a record high and surpassing the 3.1 million to 3.3 million bpd levels seen prior to the Middle East conflict, according to Kpler senior oil analyst Johannes Rauball.

The last peak for UAE exports occurred at 3.44 million bpd in April 2020 during a brief oil price war between Saudi Arabia and Russia.

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Rauball noted, "The increase can be linked to various factors, including a return of flows through the Strait of Hormuz, which has helped to release stranded vessels." He added, "We are also witnessing a rise in supply from the UAE, which is nearing pre-war levels." Additionally, the UAE has started reducing some of its inventories, contributing to sustained high volumes, Rauball stated.

ADNOC did not respond to a request for comment via email.

Between June 1 and June 29, Abu Dhabi’s crude loadings reached 4 million bpd, surpassing pre-war levels of 3.4 million bpd, according to Emma Li, a senior oil analyst at Vortexa. Exports increased to a record 3.7 million bpd, up from 3.3 million bpd during the first two months of the year.

While Asia continues to be a major market for ADNOC, demand has risen in regions west of the Suez Canal, including Africa, the U.S. West Coast, northwest Europe, and the Mediterranean, according to a source familiar with the situation. Trade reports indicate ADNOC has sold crude to Nigeria's Dangote refinery and Turkey's Tupras.

Oil loadings from the Gulf, excluding Iran, climbed 65% month-on-month to 7 million bpd in June, but remained below the 16.6 million bpd level recorded in February, said Vortexa's Li.

Additionally, ADNOC has issued its fifth crude sale tender this month, offering Upper Zakum, Umm Lulu, or Das crude in parcels ranging from 500,000 barrels to 2 million barrels for loading from June to August. The tender is set to close on Wednesday.