Middle East Oil Exports Rebound to Pre-War Levels
Crude oil exports from key Middle East producers rebounded in September to 16.328 million barrels per day (bpd), according to data from Kpler.
This marks a significant increase from August, when Saudi Arabia shipped out only 2.446 million bpd, but is still lower than the pre-conflict level of 19.513 million bpd in February.
The rebound was largely due to a recovery in exports via the Strait of Hormuz, which were set to hit about 9.719 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.
Kpler estimates Middle East crude exports at just under 80% of pre-conflict levels, with top regional exporter Saudi Arabia on track to ship about 5.4 million bpd this month.