Middle East Oil Exports Soar to Post-Conflict High

Crude oil exports from major Middle Eastern producers have reached their highest volume since the outbreak of the U.S., Israel conflict with Iran in February, according to recent data.

The total volume of crude exports from the region rose to 12.8 million barrels per day (bpd) in September, up from roughly 2.5 million bpd in August, primarily driven by surges in shipments from Saudi Arabia and the United Arab Emirates.

Improved tanker transit through the Strait of Hormuz was also a contributing factor, with 19 Very Large Crude Carriers (VLCCs) transporting Saudi crude through the strait over the past week alone. Each VLCC has a capacity of 2 million barrels.

The Strait of Hormuz saw approximately 7.4 million bpd in September, according to preliminary Kpler figures, still short of pre-conflict levels recorded in February when daily export volumes stood at 18.8 million bpd.