Gulf exports more oil than it did before Iran war despite surge in Hormuz attacks
Gulf exports more oil than it did before Iran war despite surge in Hormuz attacks The Middle East is now exporting more oil than it did before the US-Israeli war on Iran began on 28 February, posing a challenge to the Islamic Republic as it looks to cement its control over the Strait of Hormuz and as the US and Israel threaten a new attack. Gulf countries exported 24.6 million barrels per day…
Despite a surge in attacks on shipping in the Strait of Hormuz, Gulf nations are now exporting more oil than they did before the US-Israeli war on Iran started on February 28th, according to data from energy analytics firm Kpler. In the week ending October 18th, Gulf exporters shipped 24.6 million barrels per day (bpd), surpassing the prewar average of 23.3 million bpd.
The rise in exports coincides with a heightened frequency of attacks on vessels in the Hormuz strait; at least 12 incidents occurred last week according to the UK Maritime Trade Operations (UKMTO). One of these attacks resulted in a fully-laden container ship owned by the UAE sinking, likely after being hit by a projectile. The situation presents a challenge for Iran as it aims to maintain control over the strategically important Hormuz strait, while the US and Israel threaten further military action.
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