Mideast oil exports rebound in September as Saudi Arabia boosts shipments

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Crude oil exports from key Middle East producers rebounded in September to 12.8 million barrels per day, the highest since the US-Israeli war with Iran started in February, data from Kpler shows, as Saudi Arabia and the United Arab Emirates (UAE) boosted exports, according to Reuters.

The rebound came following a recovery in exports via the Strait of Hormuz, which were set to hit about 7.4m bpd this month, as Saudi Arabia diverted oil exports from the Red Sea port of Yanbu following attacks that damaged its East-West pipeline, the preliminary data shows.

While exports from the region — which includes Saudi Arabia, the UAE, Iraq, Oman, Qatar, Kuwait, Iran — have rebounded, they were still about 6m bpd down from 18.8m bpd in February, according to Kpler.

The region’s top exporter Saudi Arabia was on track to ship about 5.4m bpd this month, rebounding from 2.446m bpd in August, the data shows.

September shipments from the Ras Tanura port in the Gulf jumped to about 3.6m bpd, from 929,000m bpd in August, but still lower than the 6.411m bpd recorded in February, according to the data.

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