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Kpler: Middle East Oil Exports Peak
Kpler's data showed that crude oil exports from major Middle Eastern producers rose in September to 12.8 million barrels per day, the highest level since the outbreak of the US-Israeli war on Iran last February. The increase is attributed to a recovery in exports through the Strait of Hormuz and higher exports from Saudi Arabia and the UAE, although exports remain about 6 million barrels per day below the February levels, which reached 18.8 million barrels. Additionally, vessel traffic through the Strait of Hormuz declined to its lowest level since May, with the number of ships passing decreasing to 5-6 ships per day, amid rising shipping costs exceeding $130 per barrel.
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