Arab Oil Exports Rise 10% as US Blockade Halts Iran

Combined crude oil exports from Saudi Arabia, the United Arab Emirates, Iraq, and Kuwait rose by 10% to 15.53 million barrels a day in October. This surge returns supply levels to the rates seen at the start of the year before the onset of war, a shift that has helped temper global oil prices.

While these four nations increased production, crude exports from Iran remained at zero for the second consecutive month. This total halt in Iranian supply is the result of a naval blockade maintained by the United States Navy.