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Saudi-Led Recovery Drives Middle East Oil Exports to Highest Levels Since February

Guavy AI Editorial Team
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Oil
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Middle Eastern crude oil exports are expected to rebound to 12.8 million barrels per day (mmbbl/d) in September, their highest level since February, as Saudi Arabia and the United Arab Emirates increase shipments.

The recovery has been driven partly by a recovery in oil flows through the Strait of Hormuz, with exports via the key waterway expected to reach around 7.4 mmbbl/d this month.

Saudi Arabia is leading the recovery after attacks damaged its East-West Pipeline and disrupted exports from the Red Sea port of Yanbu. The kingdom has diverted more crude through the Strait of Hormuz to compensate for the disruption to its alternative export route.

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