UAE’s Adnoc Buys Tankers for $1.3 Billion as Crude Exports Boom

🇦🇪 Bloomberg (AE) —

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UAE’s leading oil producer ADNOC has purchased $1.3 billion worth of tankers to expand its fleet amid a surge in crude exports following the country's exit from OPEC and increased shipments through the Strait of Hormuz.

The biggest oil producer in the United Arab Emirates spent $1.3 billion to expand its tanker fleet to benefit from surging crude exports after the country left OPEC and pushed more of its oil through the contested Strait of Hormuz.

Politics Markets Deals Commodities Energy Shipping ADNOC UAE oil exports tankers Strait of Hormuz OPEC exit crude oil

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