Mideast Oil Exports Rebound to 16 Million Barrels a Day as U.S. Escorts Bolster Shipping
Updated
Updated · The New York Times · Sep 29
Mideast Oil Exports Rebound to 16 Million Barrels a Day as U.S. Escorts Bolster Shipping
3 articles · Updated · The New York Times · Sep 29
Summary
Middle East oil exports climbed to about 16 million barrels a day in September, nearing pre-shutdown levels after months of disruption tied to Iran and the Strait of Hormuz.
Kpler estimates 10 million barrels a day moved through the strait and another 6 million barrels a day left Persian Gulf states via pipelines and ports that bypass it.
The rebound has been strongest in Hormuz, where Iran is still attacking tankers, but a U.S. military operation to protect vessels appears to have restored enough confidence for Saudi Arabia and the UAE to ship more.
Flows remain below the roughly 19 million barrels a day exported before the war with Iran began in late February, though the recovery could ease some pressure on elevated global oil prices.