Global Oil Supply Rises as UAE Hits Record June Output

Global oil supply increased in June as the United Arab Emirates pumped crude at a record pace, according to a new report from the International Energy Agency. The UAE's average output reached 4.1 million barrels per day for the month, the IEA said in its monthly oil market report released last week.

The report, covered by Rigzone, highlights continued production strength from OPEC+ members even as the broader alliance maintains official output cuts. The UAE holds spare production capacity and has been allowed a higher output baseline under recent OPEC+ agreements.

For Bakken shale operators and North Dakota producers, increased supply from major global players like the UAE contributes to the overall market balance, which influences the price of West Texas Intermediate crude, the key benchmark for Bakken oil. Sustained high global production can place downward pressure on prices, potentially squeezing margins for high-cost drilling operations.

The Bakken formation remains one of the United States' top oil-producing regions, and its economics are tightly linked to global crude prices. While domestic factors like pipeline capacity, well efficiency, and local rig activity are primary drivers, international supply trends set the broader price floor and ceiling.

Market analysts monitor IEA reports for signals on global supply-demand balances. The agency's data is a key benchmark for traders and helps inform investment and production decisions by independent operators in the Williston Basin.

The IEA's report was published on July 10, 2026.