By Tsvetana Paraskova of OilPrice.com
The United Arab Emirates has managed to boost its oil exports to pre-crisis levels as early as June, as it has kept pushing crude through the Strait of Hormuz and outside it.
The UAE, which left OPEC on May 1, has found workarounds to the blockage at the Strait of Hormuz. It has been shuttling crude through the chokepoint to load it on larger vessels outside the Strait, maximizing the use of its onshore pipeline to ship crude from the west to the east of the country, bypassing Hormuz, and shipping tankers through the Strait in dark mode.
The UAE has managed to ship over June and July the most crude oil out of the Strait of Hormuz than any other Gulf producer, according to vessel-tracking data compiled by Bloomberg.
The UAE has also issued an unprecedented number of tenders to sell cargoes of millions of barrels of crude oil in recent weeks.
At the end of July, Abu Dhabi National Oil Company ADNOC issued its seventh tender offering crude from the United Arab Emirates since the beginning of June, expecting to sell millions of barrels of oil between August and October, both from within and outside the Persian Gulf.
ADNOC was offering cargo loadings from the UAE ports Zirku and Das Island inside the Persian Gulf, as well as the port of Fujairah outside the Gulf, or via shi
