Gulf Oil Exports Rebound Amid Strait of Hormuz Disruptions

Oil exports from the Gulf states have rebounded to prewar levels despite Iran's attempts to disrupt trade through the Strait of Hormuz, according to recent data.

Kpler and JPMorgan both agree that oil volumes exiting the Gulf reached an average of 16.5 million barrels per day in September, which is approximately the same as before the war.

This recovery is largely due to a shuttle-tanker system set up to transport crude through the strait, where more than 70% of oil is transferred to other vessels for further transport.

However, this increased flow may not immediately alleviate supply-side pressure on fuel pricing, as refinery capacity remains constrained by security issues in the region.