Middle East crude exports rebound in September as Saudi Arabia lifts shipments

Crude exports from major Middle East producers climbed to 16.328 million barrels per day (bpd) in September, the highest level since the US-Israeli war on Iran began in late February, preliminary data from Kpler showed.

The rebound was driven by higher shipments from Saudi Arabia and the United Arab Emirates, alongside a recovery in flows through the Strait of Hormuz. Exports via the strait were on course to reach about 9.719 million bpd this month.

Saudi Arabia diverted exports away from the Red Sea port of Yanbu after attacks damaged its East-West pipeline, shifting volumes back toward the Gulf.

Despite the recovery, regional exports remain roughly 3.2 million bpd below the 19.513 million bpd recorded in February. Kpler estimated Middle East crude exports at just under 80% of pre-conflict levels.

The tally covers cargo transits through the Strait of Hormuz, including ship-to-ship transfers in the Gulf of Oman, shipments from the UAE's Fujairah and Oman terminals outside the strait, and exports via the Red Sea. The region includes Saudi Arabia, the UAE, Iraq, Oman, Qatar, Kuwait and Iran.

Saudi Arabia, the top regional exporter, was on track to ship about 5.4 million bpd in September, recovering from 2.446 million bpd in August. Shipments from its Ras Tanura port jumped to about 3.25 million bpd from 929,000 bpd in August, though still below the 6.411 million bpd seen in February.

A total of 19 very large crude carriers, each carrying 2 million barrels of Saudi oil, left the Strait of Hormuz last week. The figures exclude vessels that may have crossed with their Automatic Identification System transponders switched off.

Before the war began on February 28, the strait typically handled about 125 large commercial vessels a day, including tankers, gas carriers, bulkers and container ships, accounting for roughly 20% of the world's daily crude oil and liquefied natural gas supply.