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Middle East Oil Exports Rebound to 12.8 Million Bpd

Saudi crude exports surged nearly 80% in September compared to August, reaching 6 million barrels per day, the highest level since the Iran war began in February.
The East-West pipeline, which transports about 4% of global oil supplies, closed earlier this month following a drone attack launched from Iraq during the Iran war.
Industry sources confirmed the East-West pipeline restarted at low volumes earlier this week and is ramping up. Saudi Aramco CEO Amin Nasser told Nikkei on Thursday that "temporary interruptions" to oil infrastructure last "usually for days, not weeks."
Brent crude dropped 1.81% and West Texas Intermediate fell 2.07% on Friday as investor confidence grew that the outage was less disruptive than feared. Prices had jumped to nearly $110 per barrel when the pipeline initially shut.
Elsewhere, Iranian Foreign Minister Abbas Araghchi said the Strait of Hormuz will reopen within seven days if the U.S. meets "certain conditions." Saudi Arabia continues navigating threats from Iran-backed Houthi rebels in the Red Sea.

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Reuters: Middle East Oil Exports at the Highest Level Since the War

Exports of crude oil from major producers in the Middle East recovered to 12.8 million barrels per day in September, with increased Saudi and United Arab Emirates shipments and recovery of export traffic through the Strait of Hormuz.

2 hours ago

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Saudi Arabia More than Doubles Oil Exports in a Month

OIL EXPORTS from the Middle East have reached 12.8 million barrels per day, the highest level since the start of the war with Iran, with Saudi deliveries recovering.

5 hours ago·Zagreb, Croatia

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