Middle East Oil Exports Soar to Post-Conflict High Amid Regional Recovery

The Middle East oil export market has experienced a significant recovery since the US-Israel conflict with Iran in February. According to data from tracking firm Kpler, crude oil exports from major regional producers rose to 12.8 million barrels per day (bpd) in September, marking the highest volume since the outbreak of the conflict.

The surge is attributed to increased shipments from Saudi Arabia and the United Arab Emirates, as well as improved tanker transit through the Strait of Hormuz. Preliminary Kpler figures indicate that crude shipments passing through the Strait will reach approximately 7.4 million bpd in September.

Saudi Arabia's exports are on track to reach around 5.4 million bpd in September, a significant increase from August's 2.5 million bpd. The country has successfully transported 19 Very Large Crude Carriers (VLCCs) through the Strait over the past week alone.

The regional export recovery comes despite overall exports remaining roughly 6 million bpd below pre-conflict levels recorded in February, when daily export volumes stood at 18.8 million bpd.