Mideast oil exports rebound in September as Saudi Arabia boosts shipments

Mideast oil exports surged in September, reaching 12.8 million barrels per day, the highest level since the US-Israeli war with Iran began in February, according to data from Kpler. Saudi Arabia and the United Arab Emirates increased shipments, following a recovery in exports through the Strait of Hormuz. Saudi Arabia alone was expected to export about 5.4 million bpd in September, up from 2.446 million bpd in August.

The Ras Tanura port in the Gulf saw a significant jump to around 3.6 million bpd, but still lagged behind February's 6.411 million bpd record.

The data, however, excluded vessels that might have crossed the strait with their Automatic Identification System transponders turned off to avoid detection. Prior to the Iran war, the strait typically accommodated about 125 large commercial vessels daily, comprising approximately 20% of the world's daily crude oil and liquefied natural gas supply. Kpler data revealed that 19 very large crude carriers, each carrying 2 million barrels of Saudi oil, transited the Strait of Hormuz last week.