Middle East oil exports rebound to 12.8m bpd in September, highest since Iran war began
Crude exports from key Middle East producers rebounded in September to 12.8 million barrels per day, the highest since the US-Israeli war with Iran began in February, Kpler data showed, as Saudi Arabia and the UAE boosted shipments.
Crude oil exports from key Middle East producers rebounded in September to 12.8 million barrels per day, the highest since the US-Israeli war with Iran began in February, Kpler data showed on Monday, as Saudi Arabia and the United Arab Emirates boosted shipments.
The recovery followed a rebound in exports via the Strait of Hormuz, set to hit about 7.4 million bpd this month. Saudi Arabia diverted oil exports from its Red Sea port of Yanbu after attacks damaged its East-West pipeline, the preliminary data showed.
The region — covering Saudi Arabia, the UAE, Iraq, Oman, Qatar, Kuwait and Iran — remains about 6 million bpd below February’s 18.8 million bpd. Saudi Arabia, the top exporter, is on track to ship about 5.4 million bpd in September, up from 2.446 million bpd in August; shipments from the Ras Tanura port jumped to about 3.6 million bpd from 929,000 bpd, though still below February’s 6.411 million bpd.
Nineteen very large crude carriers, each carrying 2 million barrels of Saudi oil, exited the strait last week. The figures exclude vessels that crossed with their AIS transponders switched off. Before the war began on February 28, the strait typically handled about 125 large commercial vessels a day, carrying some 20 per cent of the world’s daily crude oil and liquefied natural gas.
Sources
More on this topic: all Business stories