United Arab Emirates (UAE)¶
Third-largest OPEC crude producer and key Middle East refining/logistics hub.
Key Data (2024)¶
- Crude production: 2,916 kb/d
- Proven reserves: 113,000 million barrels
- Refinery capacity: 1,227 kb/d (Ruwais: 820 kb/d)
- Crude exports: 2,717 kb/d (primarily to Asia-Pacific: 1,032 kb/d OECD Asia, 567 kb/d China)
- GDP: $552.3 billion; GDP/capita $50,088 (highest in OPEC)
- Current account: +$53.0 billion
Crisis Role (Feb-Mar 2026)¶
- Shah gas field attacked by Iran (March 17) -- ADNOC/Occidental JV, first strike on UAE upstream infrastructure
- Ruwais refinery (820 kb/d) attacked or at risk
- Fujairah port suspended oil loading after March 17 attack -- critical Hormuz bypass terminal compromised
- ADCOP pipeline (Abu Dhabi Crude Oil Pipeline) connects to Fujairah, bypassing Hormuz
- ADNOC holds 6 mb strategic storage at India's Mangalore SPR cavern
Investment Significance¶
- Fujairah is the world's second-largest bunkering hub after Singapore; its disruption affects global shipping
- UAE's ADCOP pipeline is one of only two major Hormuz bypass routes (alongside Saudi East-West Pipeline)
- Highest GDP/capita in OPEC signals economic diversification success