Middle East Oil Exports Surge Past Pre-War Levels Despite Iran Attacks
Middle East oil exports have surpassed pre-war levels, averaging over 24 million barrels per day in the week ending October 18, according to Kpler data cited by multiple sources. This recovery is attributed to an improvised shipping system, including tanker-to-tanker transfers and expanded use of Saudi and Emirati pipelines bypassing the Strait of Hormuz. Despite increased attacks on vessels, oil flows through Hormuz have reached around 82% of pre-war levels. However, shipping costs and war-risk insurance have soared due to the heightened risks.29 sourcesSee all sources