Gulf oil exports reached pre-war levels in mid-September. According to shipping data, the average crude oil exports from this region increased to 18.3 million barrels per day as of September 30, and in the first 14 days of September, export volumes exceeded pre-war levels.
Increase in Exports and Logistical Challenges
This increase includes Gulf oil shipped from the Strait of Hormuz, through the Red Sea, and from terminals and transfer points to tankers in the Gulf of Oman. Previously, oil exports briefly reached pre-war levels on a few days in June and July after Washington and Tehran reached a memorandum of understanding that has since expired.
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Crude oil exports from this region averaged around 18 million barrels per day in the 12 months before the start of the U.S. and Israeli war with Iran. The recent increase in exports is mainly due to Saudi Arabia's loading from both sides of the Red Sea and the Gulf, three weeks after the attack on its East-West pipeline on September 10.
Attacks on Tankers and Security Threats
Meanwhile, attacks on tankers continue, with at least seven incidents reported last week. For example, the tanker "Kazimeh III" was attacked in the Strait of Hormuz on October 1. Additionally, the tanker "Lipsi" was struck on October 4 while passing northeast of the island of Umm al-Fahm in Oman, causing damage to its engine room. Fortunately, the crews of both tankers are safe, and no casualties have been reported.
Maritime data indicates that with the increase in traffic in the Strait of Hormuz, security threats are also rising unpredictably. According to one maritime intelligence service, Iranian forces may fire missiles toward a specific area. Before the start of the Iran war, this strait typically managed about 125 large commercial vessels daily, including tankers, gas carriers, and container ships, supplying around 20 percent of the world's oil and liquefied gas.
Read more: Middle East crude oil exports exceeded pre-war levels · Middle East oil exports exceeded pre-war levels in Iran
