Hormuz oil shipments increase to almost pre-war levels ahead of plans to reopen Strait
Hormuz oil shipments increase to almost pre-war levels ahead of plans to reopen Strait Oil shipments through the Strait of Hormuz have climbed to an average of about 13.2 million barrels per day over the past week, or roughly 77 percent of pre-war levels, according to tracking data from maritime platform Kpler. The increased movement of oil comes amid ongoing talks to implement a plan proposed by…
Oil traffic through the Strait of Hormuz surged to a monthly high in September as Saudi Arabia redirected shipments from the Red Sea route due to Houthi attacks. Saudi crude volume through Hormuz jumped to 2.58 million barrels per day, accounting for 43 percent of the strait's oil traffic, according to preliminary Kpler data. However, flows through Bab Al Mandeb fell to 2.56 million bpd, a 50 percent decrease from August.
Saudi Arabia relied heavily on its East-West pipeline to move oil to the Red Sea port of Yanbu, where tankers carried the crude to Asian markets. Nevertheless, overall regional oil traffic through Hormuz, Bab Al Mandeb, and the Suez Canal declined by 61 percent to 9.99 million bpd in September. The September total was 3.7 million bpd, with Saudi Arabia contributing about 3.7 million bpd.
The decline was more pronounced for other Gulf exporters, with Kuwait's shipments halving, the UAE's down 43 percent, and Iraq's falling 23 percent. Iran shipped only 100,000 bpd, compared to 2.5 million bpd in February under the US naval blockade. Diplomatic efforts to reopen the strait have so far failed, with Iran rejecting US President Donald Trump's offer to lift sanctions if the strait was reopened. As of September, Hormuz's flows were less than a third of February's levels.
Written by urgent.news from The National Business's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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