Middle East Oil Exports Recover but Remain Below Pre-War Levels

Oil exports from major Middle Eastern producers recovered in September as Saudi Arabia and the UAE increased shipments. Kpler data cited by Reuters showed regional crude exports reaching around 12.8 million barrels per day, the highest level since the US-Israeli war with Iran began in February.

However, exports remain about 6 million barrels per day below the February level of 18.8 million barrels per day. Saudi Arabia alone is estimated to ship around 5.4 million barrels per day in September, compared with about 2.45 million barrels per day in August.