Persian Gulf Oil Exports Reach 81% of Pre-War Levels

Crude oil exports from the Persian Gulf have rebounded to 81% of pre-war levels, according to new data from Kpler and Vortexa. The figures, reported by Reuters, exclude Iranian oil exports, which have fallen to zero. The recovery was largely driven by Saudi Arabia, which boosted its daily oil exports from 4.2 million barrels in August to 6.6 million barrels in September.

The overall export volume of crude oil, condensates, and liquefied petroleum gas averaged 19.2 million barrels daily in September, up from previous months but still below the pre-war average of 23.6 million barrels. The data covers exports from Saudi Arabia, the UAE, Kuwait, Iraq, Qatar, Oman, and Bahrain. Kpler's data showed that on some days in late September, crude oil flows even exceeded pre-war levels, reaching between 19.5 million and 22.5 million barrels daily.

However, Vortexa highlighted concerns about fuel exports, noting that while crude flows have returned to 91% of pre-war levels, fuel exports remain at just 60% of pre-war averages. The company cautioned that the recent recovery may not be sustainable due to increased volatility in daily flows. 'Daily flows are considerably more volatile than before the war, so the key question is whether recent levels can be sustained,' said Vortexa analyst Claire Jungman.