Commodities
Middle East Oil Exports Surge Amid Global Demand Growth
The Middle East's oil exports have reached their highest level since the Iran war began in 2019, according to data from international trade bodies.
The increase in oil exports comes despite ongoing tensions between the US and Iran, which escalated into military conflict last year.
According to figures from Refinitiv, a financial information provider, Middle Eastern oil exports have averaged around 25 million barrels per day since January this year.
This marks a significant increase from the same period in 2020, when exports were around 20 million barrels per day due to the pandemic and related lockdowns.