Middle East Oil Exports Drop Amid Hormuz Shipping Risks

Middle East oil exports declined in October from recent post-war highs, driven by record shipping attacks and mounting risks around the Strait of Hormuz. Data from Vortexa shows that exports of crude, condensate, and refined products averaged 17.1 million barrels per day, a decrease from the 18.9 million barrels per day recorded in September.

Vortexa and Kpler both reported the downturn. Kpler estimated that crude and condensate flows through the Red Sea, Gulf of Oman, and the Strait of Hormuz fell to 16.1 million barrels per day. The United Arab Emirates experienced the most significant decline, with Iraq, Oman, and Kuwait also seeing lower export volumes. Saudi Arabia's exports remained steady during this period.

Tracking these movements has become increasingly difficult as tankers switch off signals to avoid detection. These figures exclude Iran, which remains unable to export oil due to a blockade maintained by the United States government.