Middle East Oil Exports Plummet Across US Blockade Line

Oil exports from the Middle East have plummeted to nearly six million barrels per day over the past seven days, according to TankerTrackers. This drastic decline is a significant drop from the February levels of over 19 million bpd.

The tracking service, which monitors oil-shipping activity, noted that this decrease occurred across the US Navy blockade line. The exact cause behind this sharp decline in exports remains unclear, but it has undoubtedly had an impact on global markets.