ScienceWednesday, October 21, 20261 min read

Gulf exports more oil than it did before Iran war despite surge in Hormuz attacks

By Fleur Hargreaves · Via Middle East Eye · Published by Everything Blog

In short

Gulf countries are exporting 24.6 million barrels per day, surpassing pre-war levels of 23.3 million bpd, despite increased attacks on shipping in the Strait of Hormuz. Ship-to-ship transfers and reliance on national carriers are key factors, despite rising costs and safety concerns. Brent crude prices remain stable at around $109 per barrel, while refined products like diesel have surged.

Key points

Gulf countries are exporting more oil than before the Iran war.: Gulf countries are exporting more oil than before the Iran war.
Ship-to-ship transfers and reliance on national carriers are key factors.: Ship-to-ship transfers and reliance on national carriers are key factors.

Sources checked by our analysis pipeline: 1

The Middle East is now exporting more oil than it did before the US-Israeli war on Iran began on 28 February, posing a challenge to the Islamic Republic as it looks to cement its control over the Strait of Hormuz and as the US and Israel threaten a new attack.

Gulf countries exported 24.6 million barrels per day (bpd) in the week ending 18 October, surpassing prewar levels of 23.3 million bpd, according to data released by energy analytics firm Kpler.

The surge in exports comes at a time when Iran's attacks on vessels in the Strait of Hormuz have also surged.

At least 12 attacks took place last week, according to the United Kingdom Maritime Trade Operations (UKMTO).

A fully-laden container ship owned by the UAE sank last week in the Strait of Hormuz after likely being hit by a projectile.

Original source: www.middleeasteye.net

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Gulf exports more oil than it did before Iran war despite surge in Hormuz attacks

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