UAE reports 80% surge in oil production to OPEC for June

The United Arab Emirates informed OPEC that its crude oil production skyrocketed by 80% in June, reaching approximately 3.8 million barrels per day. This surge follows Abu Dhabi’s decision to exit OPEC’s production limits at the start of May, effectively freeing it to ramp up output despite ongoing regional disruptions tied to the Iran conflict. The UAE’s June production figure represents a 1.71 million barrel-per-day increase from May, according to a monthly OPEC report reviewed by Bloomberg on July 13, 2026. The spike in output occurred even as tensions flared between the U.S. and Iran, demonstrating Abu Dhabi’s ability to reroute exports away from the Strait of Hormuz, a critical chokepoint often disrupted by regional conflicts. The surge contributed to a supply glut in Asian markets, forcing Saudi Arabia—OPEC’s de facto leader—to slash prices on its crude to remain competitive. OPEC’s Vienna-based secretariat continues to include UAE data in its monthly reports despite Abu Dhabi’s formal exit announcement, as the group’s statutes stipulate that member departures take effect only at the start of the following calendar year. Before the UAE’s exit, estimates of its production had been inconsistent, with OPEC’s secondary sources reporting 3.39 million barrels per day and the International Energy Agency (IEA) estimating 3.64 million barrels per day just prior to the war. OPEC’s secondary sources later pegged June output at 3.8 million barrels per day, though they calculated a slightly smaller increase of 76% compared to the previous month. OPEC also downgraded its 2026 global oil demand growth forecast to 800,000 barrels per day, a 0.7% increase from 2025, though this remains more optimistic than the IEA’s projection of a 1 million barrel-per-day decline in world consumption due to the war’s impact. Saudi Arabia, meanwhile, reported a June production increase of 561,000 barrels per day, bringing its output to 7.122 million barrels per day, with a supply-to-market figure of 6.637 million barrels per day, excluding storage movements.