Saudi crude oil exports in September reached their highest level since the start of the Iran war. This significant increase in exports followed the attack on the key east-west pipeline and Riyadh's decision to increase oil transfers through the Strait of Hormuz.
Details of the Increase in Oil Exports
According to tanker tracking data, Saudi Arabia's total exports since the beginning of September have reached 5.28 million barrels per day, marking the highest rate since February. This export surge was due to increased crude oil sales following the attack two weeks ago on the east-west pipeline, which disrupted shipments.
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Saudi Arabia, the largest seaborne oil supplier in the world, has helped prevent supply shortages in the region by increasing its exports to Asian markets. These shipments are delivered to Asian buyers and seem to have contributed to increased demand and an improvement in the energy market.
Impact of the Pipeline Attack and Route Changes
The attack on the east-west pipeline, which has a maximum daily transfer capacity of 7 million barrels, forced Saudi Arabia to turn to the Strait of Hormuz. Before the war, nearly 90 percent of Saudi crude oil exports passed through the Persian Gulf, but this share fell to zero in April and May. Currently, with the return of tankers to the Strait of Hormuz, Saudi Arabia has been able to resume part of its exports.
Satellite images show that a key oil terminal in the Persian Gulf is at its busiest since the start of the Iran war. In three images captured over a four-day period, several tankers were observed docking at this facility, and it is expected that with this trend continuing, the average daily oil flow will exceed 5 million barrels.
This increase in exports will directly impact the energy market, and it seems that Saudi Arabia, despite past challenges and disruptions, has once again been able to play its key role in global energy supply.
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