Hormuz Oil Flows Rebound as Saudi Shifts Exports Back to Gulf

Oil exports through the Strait of Hormuz are rebounding this month after attacks disrupted Saudi Arabia's main pipeline route to the Red Sea. According to energy intelligence firm Kpler, crude exports from key Middle Eastern producers are on track to reach 12.8 million barrels per day (bpd) in September, their highest level since February when US-Israeli war with Iran began.

The increase has been particularly pronounced for Saudi Arabia, which has been diverting crude to Gulf terminals after attacks on its East-West pipeline damaged pumping stations on September 10. Saudi crude exports are expected to average about 5.4 million bpd in September, more than double August's 2.446 million bpd.

The shift means Saudi Arabia is now sending substantially more crude through the Strait of Hormuz, with shipments from its Ras Tanura terminal on the Gulf surging to about 3.6 million bpd, from just 929,000 bpd in August.