Mideast oil exports rebound in September as Saudi Arabia boosts shipments
The rebound came following a recovery in exports via the Strait of Hormuz, which were set to hit about 7.4 million bpd this month.
Mideast oil exports surged in September, reaching a record 12.8 million barrels per day, as Saudi Arabia and the United Arab Emirates increased shipments, data from Kpler revealed on Monday. This marked the highest level since the US-Israeli war with Iran began in February. Saudi Arabia, the region's top oil producer, was on track to export around 5.4 million barrels per day this month, up from 2.5 million bpd in August.
The recovery in exports via the Strait of Hormuz also contributed to the rise, with the strait set to handle about 7.4 million bpd this month. September saw 19 very large crude carriers, each carrying 2 million barrels of Saudi oil, exit the strait, according to Kpler data. Before the Iran war commenced on February 28, the strait typically accommodated about 125 large commercial vessels daily, handling roughly 20 percent of the world's daily crude oil and liquefied natural gas supply.
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