Saudi Arabia's crude oil exports in September hit the highest level since the outbreak of the Iran conflict.
智通财经2026/09/27 03:06Show original
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- According to data from trade intelligence firm Kpler, despite a sharp escalation in conflict with Houthi forces in Yemen, Saudi Arabia’s crude oil exports have surged significantly this month.
- In September, Saudi Arabia's daily crude oil exports reached 6 million barrels, the highest level since the outbreak of the Iran conflict about seven months ago, bringing exports back to the 2025 monthly average level.
- Despite being forced to shut down a key east-west pipeline this month due to drone attacks launched from Iraq, Saudi Arabia still managed to increase its crude oil exports.
- September’s export volume soared by nearly 80% compared to the 3.4 million barrels per day in August.
- According to Kpler data, on Wednesday, the seven-day average of oil exports through the Strait of Hormuz reached 13.2 million barrels per day, compared to about 17 million barrels per day before the Iran conflict disrupted shipping.
- Kpler's head of commodities research stated that the surge in Persian Gulf crude exports is partly a result of pipeline outages, but it also suggests that as traffic increases, confidence in transiting the Strait of Hormuz is strengthening.
- From a market perspective, the recovery in Saudi exports helps alleviate supply tightness, but volumes through the Strait of Hormuz remain below pre-conflict levels. Ongoing attention is needed on Red Sea and pipeline security as well as changes in the strait’s risk premium.
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