Gulf Oil Exports Rebound to 18.3 Million Bpd as IRGC Threats and Ship Attacks Mount
Updated
Updated · Al Jazeera English · Oct 6
Gulf Oil Exports Rebound to 18.3 Million Bpd as IRGC Threats and Ship Attacks Mount
3 articles · Updated · Al Jazeera English · Oct 6
Summary
18.3 million bpd of Middle East crude exports were moving by September 30, with Gulf flows excluding Iran back above 81% of pre-war levels despite worsening security around Hormuz.
At least seven tanker incidents were reported in the past week, including a Tuesday strike that injured 12 crew and a Monday IRGC warning ordering a tanker near Oman to turn back or risk attack.
About 40% of regional oil exports now bypass Hormuz, with Saudi Arabia leaning on its East-West pipeline and traders using offshore ship-to-ship transfers to keep crude moving.
Brent fell 0.75% to $99.57 even as freight, insurance and security costs climbed, showing that restored flows have eased immediate supply fears without removing logistical strain.
Analysts say the workaround can hold only while pipelines and shuttle routes stay secure; Aramco estimates nearly 3 billion barrels of supply have been lost since February, with recovery taking up to two years.