Gulf oil flows rebound in September to 81% of pre-war levels

Oil shipments originating from the Gulf, excluding Iran, rebounded in September to surpass 81% of pre-war levels, according to data provided by Reuters. The recovery was primarily fueled by a resurgence in Saudi exports. Despite the ongoing blockade impeding Iranian oil exports, Gulf nations have ingeniously navigated attacks on energy and shipping infrastructure through the utilization of "dark passage" tactics.

This involves disabling tanker tracking systems to evade detection, ensuring the continuity of oil flows crucial for their economies. Vortexa data, referenced by the agency, revealed that the average daily crude oil, condensate, and refined fuel shipments from Saudi Arabia, Kuwait, Qatar, Oman, Bahrain, Iraq, and the UAE reached 19.2 million barrels.

This figure marked a significant increase from an average of 23.6 million barrels per day in the year preceding the Iran war, which commenced on February 28. Kpler data corroborated this, reporting that total oil exports in September amounted to 18.6 million barrels per day. Notably, Saudi Arabia spearheaded a substantial recovery in Gulf crude and condensate exports in September, with shipments rising by approximately 4.2 million barrels per day compared to the previous month.

This surge in Saudi exports surpassed declines from other Gulf suppliers, contributing to the region's overall net export growth as deliveries rebounded from the setbacks endured in earlier months.