UAE's oil supply rebounded to a record high of 5.3 million barrels per day (bpd) in September, but energy analyst Karl Miller noted in an October 22 report that natural gas, petrochemical production, and fuel inventory replenishment significantly lagged, indicating the energy system still faces dual pressures of supply chain damage and insufficient reserves.
According to International Energy Agency (IEA) data, UAE's oil supply reached a historical peak of 5.3 million bpd in September, with Fujairah port's daily loading volume rising to 2.62 million barrels, and Ruwais Refinery resuming full-capacity operations by late August. However, energy analyst Karl Miller pointed out in an assessment report published on October 22 that natural gas output, petrochemical feedstock supply, and fuel inventories remain well below pre-war levels. Fujairah's refined product inventories have dropped to 7.25 million barrels, a 65% reduction from the approximately 20.7 million barrels before the war. ADNOC Gas's Q2 financial report showed a 32.5% decrease in domestic natural gas production, about a 71% decrease in LNG sales, and a 52% drop in net profit. Miller believes that the rebound in crude oil exports has not led to a full recovery of the energy system; while the UAE has restored its crude oil supply rate, it has not yet restored its ability to withstand the next shock.