Hormuz Oil Exports Hold Steady at 33.7 Million Barrels

Crude oil exports through the Strait of Hormuz have remained steady, reaching 33.7 million barrels so far in the week starting September 20, according to preliminary ship-tracking data from Kpler. This is roughly on par with the previous week's levels.

The traffic consists of 19 tankers, including 17 very large crude carriers (VLCCs) capable of carrying 2 million barrels of oil each. Most of these vessels are loaded with crude from Saudi Arabia and Iraq.

State-run Saudi Aramco has increased its exports via Hormuz after a recent attack on its East-West Pipeline halted shipments from the Red Sea port of Yanbu. The number of commodity vessels transiting the Strait of Hormuz fell to nine on Thursday, down from 14 the day before, although Kpler data shows that an unknown number of ships sail through the waterway with their transponders turned off.

Before the Iran war started on February 28, the strait handled about 125 large commercial vessels per day, including tankers, gas carriers, bulk carriers, and container vessels. This accounted for around 20% of global oil and liquefied natural gas supply.