UAE Moves Oil Tankers Through Hormuz Amid Ongoing Conflict

United Arab Emirates and several oil buyers have recently moved crude tankers through the Strait of Hormuz with tracking systems turned off to reduce the risk of Iranian attacks, according to industry sources and shipping data cited by Reuters.

In April, Abu Dhabi National Oil Co. exported at least 4 million barrels of Upper Zakum crude and 2 million barrels of Das crude aboard four tankers from Gulf terminals. (Photo: ADNOC)

Although the shipments represent only a fraction of the UAE’s normal export volumes before the US-Israeli conflict with Iran, they demonstrate the extent of the risks producers and buyers are willing to take to resume oil sales.

Other Gulf producers — including Iraq, Kuwait, and Qatar — have either halted exports, sharply reduced prices to attract buyers, or rerouted shipments through alternative routes.

Saudi Arabia has shifted some exports through the Red Sea. In April, Abu Dhabi National Oil Co. exported at least 4 million barrels of Upper Zakum crude and 2 million barrels of Das crude aboard four tankers from Gulf terminals.

According to Reuters, Kpler, and SynMax satellite analysis, the cargoes were either transferred ship-to-ship, unloaded into storage facilities in Oman, or delivered directly to refineries in South Korea and Southeast Asia.