Middle East Oil Exports Rebound to Pre-War Levels

Oil exports from key Middle East producers rebounded in September to 12.8 million barrels per day, the highest since February when the US-Israeli war with Iran started.

The recovery is attributed to Saudi Arabia and the United Arab Emirates boosting their exports, following a recovery in shipments via the Strait of Hormuz.

Despite this rebound, oil exports from the region are still about 6 million bpd down from 18.8 million bpd in February.

Saudi Arabia was on track to ship about 5.4 million bpd this month, a significant increase from 2.446 million bpd in August.