Middle East Oil Exports Hit Highest Level Since Iran War

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 started in February.

The rebound came following a recovery in exports via the Strait of Hormuz, which were set to hit about 7.4 million bpd this month, as Saudi Arabia diverted oil exports from the Red Sea port of Yanbu following attacks that damaged its East-West pipeline.

Although exports from the region have rebounded, they are still about six million bpd down from 18.8 million bpd in February, according to Kpler.

The region's top exporter Saudi Arabia was on track to ship about 5.4 million bpd this month, rebounding from 2.446 million bpd in August.