Crude and condensate exports from the Middle East reportedly reached approximately 16.5 million barrels per day (bpd) in September. Data from analytics firm Kpler suggests that during the final week of that month, daily export figures occasionally surpassed the pre-war average of 18 million bpd.
Despite this recovery in export volumes, global oil prices have not seen a significant decline, according to reporting by OilPrice.com. This sustained pricing occurs even as producers utilise alternative pipeline routes and port facilities.
Additionally, tankers transiting the Strait of Hormuz are increasingly relying on protective escorts from the U.S. military and employing complex ship-to-ship (STS) transfer operations to manage their cargo movements.