Middle East Oil Exports Surge to Pre-War Levels

The Middle East has seen a significant rebound in crude oil exports following a recovery in shipments via the Strait of Hormuz, according to data from Kpler. In September, major producers in the region exported 16.32 million barrels per day, the highest level since the US-Israeli war on Iran last February.

The increase is attributed to Saudi Arabia's decision to reroute oil exports away from the Red Sea port of Yanbu following attacks that damaged its East-West Pipeline. As a result, shipments via the Strait of Hormuz are projected to reach approximately 9.71 million barrels per day this month.

Despite the increase, total volumes remain roughly 3.2 million barrels per day lower than the February level of 19.51 million barrels per day. Kpler estimates that crude oil exports from the Middle East have reached just under 80 percent of pre-conflict levels.