UAE oil exports rebound to 3.01 million B/D

The UAE’s exports of crude oil and condensates increased in August 2019, with shipments reaching 3.01 million barrels per day compared with 2.71 million bpd in July, Bloomberg News reported.

 The rise in oil exports is driving up the volume of shipments that went to India, Japan and Malaysia, which led to reduce the volume of shipments destined for Singapore and South Korea during the same month..

 OPEC oil production rose last month for the first time since the entry of the production cut agreement between the Organization and its independent allies starting in January 2019, and increased the organization’s production by 200 thousand barrels per day to 29.99 million barrels per day in August.