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Gulf Oil Exports Rise Above Pre-War Levels Amid Hormuz Tensions
By Drooid · · How we work
Gulf Oil Exports Rise Above Pre-War Levels
In the week ending October 18, Gulf producers shipped 24.6 million barrels per day (bpd), exceeding the 23.3 million bpd recorded before the war that began on February 28. The data come from energy-analytics firm Kpler. The increase occurs while Iran’s attacks on vessels in the Strait of Hormuz intensified, with the United Kingdom Maritime Trade Operations reporting at least 12 attacks in the same week.
Bypass Strategies Reduce Hormuz Dependence
Exporters are increasingly using ship-to-ship transfers and alternative routes to avoid Hormuz. Kpler estimates that in September roughly 40 percent of non-Iranian Gulf crude bypassed the strait, up from 17 percent before the conflict. Saudi Arabia has shifted oil shipments to the Red Sea and, after a Houthi embargo, rerouted flow through a pipeline to the Mediterranean via Egypt. Iraq, the OPEC-second-largest producer, signed a July agreement with Syria to rehabilitate a pipeline linking its northern fields to the Syrian Mediterranean coast, further diversifying export pathways.
Market Prices and Shipping Costs
Despite higher export volumes, the international benchmark Brent hovered around $109 per barrel, and refined-product prices—particularly diesel—have risen. Shipping rates have climbed as vessels undertake longer detours around Hormuz, tightening vessel availability for the region’s crude.
Political Statements and Potential Military Action
Israeli Prime Minister Benjamin Netanyahu declared his commitment to overthrowing the Islamic Republic and asserted that Tehran was restarting its nuclear programme. In a separate endorsement of Netanyahu during Israel’s recent election campaign, former U.S. President Donald Trump said he wanted Netanyahu to help him “finish the job” against Iran. Both leaders’ remarks come as the United States and Israel weigh the possibility of resuming attacks on Iranian targets.