12 Hrs
Source:
الوئام
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Saudi Arabia Drives Oil Export Growth
The oil trade activity in the Gulf region has experienced a noticeable improvement, with increased crude flows through the Strait of Hormuz and rising exports from major producers, especially Saudi Arabia and the UAE, in September. Oil exports from the region rose to approximately 12.8 million barrels per day, the highest level since the start of the US-Israeli war against Iran in February. However, this is still about 6 million barrels per day lower than pre-war levels, which reached 18.8 million barrels. Additionally, the Ras Tanura port saw a surge in shipment volumes, and Saudi exports increased significantly from 2.446 million to 5.4 million barrels daily, as giant oil tankers resumed crossing the strait intensely. While this improvement reflects a partial recovery in oil trade activity, export levels remain below those before the outbreak of the war. Maritime traffic through the Strait remains very important for global markets, accounting for approximately 20% of the world's oil and LNG supplies. The stability of flows through the strait is essential for maintaining global energy market stability.
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