Middle East oil exports surpass pre-war levels amid Hormuz bypass routes

For the first time since the US and Israel launched their offensive against Iran at the end of February, Middle Eastern oil exports have surpassed pre-war levels. According to data from Kpler, weekly shipments rose above the pre-conflict average of 18 million barrels per day. In September, crude oil exports reached pre-war levels, with at least 16.5 million barrels leaving the region excluding Iran.

Kpler reported that 40 percent of oil shipments now bypass the Hormuz Strait, with most crude changing tankers offshore. The majority of oil flows through Saudi and United Arab Emirates pipelines, including routes via the Red Sea to avoid Iran's blockade. Despite Iran's claims of control over Hormuz, more ships are successfully navigating the area, and alternative routes are operating at full capacity.

Experts note that the situation remains abnormal, as Iran is still deprived of a significant portion of its exports due to a US counterblockade. Saudi Arabia has benefited from the reactivation of its East-West pipeline, which links its main oil fields to the Yanbu terminal on the Red Sea, allowing it to bypass Hormuz. The pipeline, which was shut down on September 11 after being hit by strikes from Iraq, resumed operations on September 22.

The United Arab Emirates also bypasses Hormuz through a pipeline connecting Abu Dhabi's fields to Fujairah, a terminal just outside the strait. Meanwhile, oil prices saw a decline, with Brent North Sea crude for December delivery falling 0.79 percent to $101.44 a barrel, and West Texas Intermediate for November delivery dropping 1.20 percent to $90.02.