Middle Eastern Oil Exports Rebound Through Strait of Hormuz

Crude oil exports from major Middle Eastern producers have rebounded in September, reaching their highest level since the US-Israel war with Iran began in February. According to data from Kpler, total shipments from countries like Saudi Arabia and the United Arab Emirates increased, driven by higher exports through the Strait of Hormuz.

The Strait of Hormuz is a critical waterway that handles around 20% of the world's daily crude oil and liquefied natural gas (LNG) supplies. With its strategic importance, any changes in shipping flows through the strait can have significant impacts on global energy trade.

Saudi Arabia was the main driver of the recovery in exports, with shipments reaching around 5.4 million barrels per day (bpd) in September, up from just 2.446 million bpd in August. The country diverted some shipments from the Yanbu terminal on the Red Sea after attacks damaged the East-West pipeline connecting production areas with the port.

Despite the recovery, oil exports from the region remained around 6 million bpd below the February level of 18.8 million bpd.