Middle East Oil Exports Rebound to Highest Level Since Iran War
Middle East oil exports have rebounded in September to their highest level since February, following a decline due to the US-Israeli war on Iran. According to data from Kpler, crude oil exports from key producers in the region reached 16.328 million barrels per day (bpd) in September.
The rebound was led by Saudi Arabia and the United Arab Emirates, which boosted their exports. The Strait of Hormuz, a major shipping route, saw a recovery in exports to about 9.719 million bpd this month, after being affected by attacks that damaged Saudi Arabia's East-West pipeline.
However, oil exports from the region are still about 3.2 million bpd down from their pre-conflict levels of 19.513 million bpd in February. Kpler estimates that Middle East crude exports have reached just under 80% of their pre-conflict levels.