Iraq, Middle Eastern countries record highest recovery in oil exports

An oil tanker in the sea. Photo: AFP Baghdad (IraqiNews.com) – Kpler revealed that crude oil exports from major Middle Eastern producers rebounded in September to reach 16.32 million barrels per day, the highest level since the outbreak of the US-Israeli war on Iran last February. The Swiss-based Dutch multinational energy trading company indicated that this rebound followed a recovery in exports via the Strait of Hormuz, which were projected to reach approximately 9.71 million barrels per day this month. The shift took place as Saudi Arabia rerouted oil exports away from the Red Sea port of Yanbu following attacks that damaged its East-West Pipeline, according to Reuters. Despite the increase in oil exports from the region, which comprises Saudi Arabia, the UAE, Iraq, Oman, Qatar, Kuwait, and Iran, the total volumes are still roughly 3.2 million barrels per day lower than the February level of 19.51 million barrels per day. This statistic encompasses shipments that transit through the Strait of Hormuz, including ship-to-ship transfers in the Gulf of Oman. It also accounts for shipments originating from ports located beyond the strait, such as Fujairah in the UAE and ports in Oman, as well as exports conducted through the Red Sea. Kpler said on Monday that it estimates crude oil exports from the Middle East at just under 80 percent of pre-conflict levels. Data showed that Saudi Arabia, the region’s largest exporter, is on track to ship approximately 5.4 million barrels per day this month, compared to 2.44 million barrels per day in August. September shipments from Saudi Arabia’s Ras Tanura port in the Arabian Gulf surged to approximately 3.25 million barrels per day—up from 929,000 barrels per day in August—though they remain below the 6.41 million barrels per day recorded in February. Before the outbreak of war with Iran on February 28, the Strait of Hormuz handled about 125 large commercial vessels daily—including oil and gas tankers, bulk carriers, and container ships.