Middle East Oil Flows Hold Steady Despite Pipeline Disruption

Oil flows out of the Middle East have held up better than expected despite disruptions to Saudi Arabia's East-West pipeline, according to JPMorgan. The bank's analysts estimate that total oil flows from the region averaged around 17 million barrels per day over the past 10 days, which is roughly 6 million below the 2025 average.

The most notable shift has come from Saudi Arabia, where satellite data shows oil moving through the Strait of Hormuz at an average rate of around 3 million barrels per day over the past six days. This is up significantly from about 700,000 in August, according to JPMorgan's Natasha Kaneva.

Total Saudi exports were approximately 5 million barrels per day on a 10-day moving average, according to Kaneva. Oil prices reflected this view last week, falling for a third session to finish the week roughly flat, with US crude closing around $100 a barrel and Brent slightly higher.