UAE and Oman Reap Windfalls from US-Iran War Disruptions

The ongoing US-Iran war has brought unexpected benefits to two major Gulf crude producers, the United Arab Emirates (UAE) and Oman. According to data, their oil export revenues have increased significantly since the start of the conflict.

The UAE earned an estimated $53 billion from oil exports between March and August, up 54 percent year on year, thanks in part to higher energy prices and routes that bypass the Strait of Hormuz, a key energy chokepoint disrupted by the war. Ship-to-ship transfers and the use of the country's pipeline to Fujairah have also helped maintain exports.

Oman's oil earnings increased by 81 percent to more than $13 billion, while exports rose by 28 percent.