Saudi Oil Exports Rise in October Despite Iranian and Houthi Attacks

Two of three companies specializing in ship tracking reported that Saudi crude oil exports rose in October compared to September, despite Iranian attacks on maritime navigation in the Gulf and the announcement by the Iran-aligned Yemeni Houthi group of attacks on oil facilities in the kingdom.

Data from Kpler, the third ship-tracking company, showed a decline in exports, with many tankers turning off their tracking signals, making it difficult to accurately determine actual volumes.

The website TankersList.com reported that Saudi crude oil exports averaged nearly 7.9 million barrels per day through October 29, up from 5.8 million in September. Preliminary data indicated that this figure included 3.32 million barrels per day from the western coast and 4.55 million from the east.

For its part, Petro-Logistics, a company specializing in tracking oil tankers, noted that exports from the Saudi port of Yanbu rose after declining in September.

Virginie Bannic of Petro-Logistics stated, “Total volumes exiting the Strait of Hormuz fell by between 2 million and 3 million barrels per day from the peaks recorded earlier in October.” She added, “But Saudi exports overall remain strong and will end the month at a higher level than in September.”

Kpler data showed that total Saudi crude oil exports reached 5.72 million barrels per day since the beginning of the month, compared with 6.70 million in September. Tracking company data do not always align, and figures are likely to be revised again as more information becomes available.

It has become increasingly difficult to verify exports through the Strait of Hormuz since many tankers turned off their tracking signals amid security risks, prompting analysts to rely more heavily on satellite imagery, port monitoring, and other data to estimate flow volumes.