Gulf Arab oil exports hit 18.3 million barrels per day in September, above pre-war levels

Reuters··SAAE·Read original
4▲2 ▼0Impact / 5
Summary · why it matters

Oil exporters in the Gulf Arab region returned to exporting more oil than pre-war levels in September, while attacks on tankers and shipping restrictions continue to make the export outlook uncertain. Preliminary data from Kpler showed that the seven-day average of crude oil exports from the region stood at 18.3 million barrels per day as of September 30, with the 14-day export volume in September exceeding pre-war levels, when crude exports from the region ran at about 18 million barrels per day over the past 12 months. The latest figures cover oil exports from the Persian Gulf through the Strait of Hormuz, shipments via the Red Sea, and oil exported from loading terminals and ship-to-ship transfers in the Gulf of Oman. Kpler said the increase in exports was driven mainly by Saudi Arabia, which resumed loading oil on both the Red Sea and Persian Gulf sides in the three weeks after the September 10 attack on the East-West pipeline. Vortexa, a shipping data provider, said the 14-day moving average of crude and condensate exports from the Middle East rose to 18.6 million barrels per day, above the 10-year seasonal average. Meanwhile, Marisks, a maritime intelligence provider, said on Saturday, October 3, that vessels transiting the Strait of Hormuz are facing increased security threats and increasingly unpredictable conditions, after shipping volumes in the area rose rapidly in recent weeks.

Impact on assets 2

Others▲
⛏Brent Crude Oil Futures
BRENT
▲ PositiveSupplyrelevance

Gulf Arab crude exports hit 18.3 mb/d in September, above pre-war levels, signaling ample supply that pressures Brent prices lower.

⛏Crude Oil WTI Futures
WTI
▲ PositiveSupplyrelevance

Gulf Arab crude exports hit 18.3 mb/d in September, above pre-war levels, signaling ample supply that pressures WTI prices lower.

Off-coverage companies 3

Kpleri
Private± Mixedrelevance

Mariski
Private± Mixedrelevance

Vortexai
Private± Mixedrelevance