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.
Source: [Bloomberg Markets](https://www.bloomberg.com/news/articles/2026-08-07/uae-s-adnoc-buys-tankers-for-1-3-billion-as-crude-exports-boom)