Gulf oil exports surpass pre-war levels
Gulf oil exports rise via alternative routes to bypass risks in the Strait of Hormuz.
Translated by Qiyas from القبس — Original source
Crude oil exports from the Middle East region surpassed pre-war levels over several days in late September, reaching 22.5 million barrels per day, according to preliminary data from Kpler, a vessel-tracking firm. The data showed that crude exports exceeded the pre-war average of around 18 million barrels per day on four days in late September, while the seven-day moving average stood at approximately 18.5 million barrels per day on October 1. Other data indicated that crude and condensate exports from Saudi Arabia, the United Arab Emirates, Kuwait, Iraq, Qatar, Oman, and Bahrain averaged around 19.2 million barrels per day in September, representing more than 81% of pre-war levels, according to the Fortexa platform. The rise in flows reflects the ability of Gulf producers to reroute their exports via alternative routes amid ongoing security risks in the Strait of Hormuz. Alternatives included pipeline routes and Red Sea ports, as well as ship-to-ship oil transfers in the Gulf of Oman. Kpler data showed that around 40% of the region’s crude exports in September took routes bypassing the Strait of Hormuz, compared to just 17% before the war, marking a clear shift in the map of Gulf oil exports. Despite the return of export volumes to high levels, this does not mean the supply system has fully returned to normal, as shipping and insurance costs remain elevated and tankers continue to face security risks in the region.
