Gulf oil exports jump in June on record UAE flows

• UAE crude exports hit an all-time high of 3.7-3.8 million bpd in June, more than 1 million bpd above May levels, leading the Gulf recovery
• Tanker traffic through the Strait of Hormuz reached 14 vessels per day (98 total between June 22-28), the highest since conflict began, with floating storage declining from 96 million barrels in April to 23 million barrels
• Saudi Arabia increased exports by 768,000 bpd to 4.52 million bpd while Iran raised exports over 70% to 640,000 bpd as the U.S. blockade eased

Gulf Oil Exports Surge in June Following U.S.-Iran Agreement

Key Developments:

Gulf crude oil exports jumped significantly in June 2026, rising above 10 million barrels per day (bpd) - an increase of more than 3 million bpd from May. The surge followed a June 17 agreement between the U.S. and Iran to halt conflict and restore shipping through the Strait of Hormuz.

Critical Figures:

• Combined exports from Saudi Arabia, UAE, Kuwait, Iraq, and Iran reached 10.07 million bpd (Kpler data) or 10.2 million bpd (Vortexa data)
• Exports remain 40% below pre-conflict levels of 16.5 million bpd from a year earlier
• UAE crude exports hit a record 3.7-3.8 million bpd, exceeding May levels by over 1 million bpd
• Saudi exports increased 768,000 bpd to 4.52 million bpd
• Floating storage in the strait peaked at 96 million barrels in late April, declining to 23 million barrels by June

Market Impact:

The restoration of tanker traffic cleared the Gulf oil export backlog, enabling producers to increase output and push oil prices back to pre-conflict levels. Ship traffic surged to 98 tankers (14 daily) crossing the strait between June 22-28, the highest since conflict began, with 47 laden outbound tankers and 41 ballast vessels entering.

Regional Performance:

Iraq and Kuwait exports recovered to approximately 800,000 bpd each. Iran raised exports by over 70% to 640,000 bpd as U.S. blockade eased. Kuwait boosted production to 1.65 million bpd in June. During the conflict, Saudi Arabia and UAE utilized pipelines bypassing Hormuz to sustain exports.