UAE’s Adnoc Buys $1.3 Billion of Tankers as Oil Exports Boom

By Anthony Di Paola

Aug 7, 2026 (Bloomberg) –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.

Abu Dhabi National Oil Co.’s shipping arm almost doubled the number of its Very Large Crude Carriers, which can carry about 2 million barrels of crude, to 14 from eight, according to a statement. It also bought five ships that carry fuels like propane.

While much of the transit via the Strait of