Gulf oil exports dipped in October from September’s levels, which were the highest since the Iran war started, Reuters reports citing data from two ship-tracking companies.
Flows of crude, condensate and refined products, excluding liquefied petroleum gas, averaged 17.1 million barrels per day in October, according to Vortexa. This marks a drop from 18.9 million bpd in September but still represents roughly three-quarters of pre-war levels.
“October data shows Middle East seaborne oil exports have pulled back slightly from recent post-war highs on heightened risks in the Strait of Hormuz,” Vortexa analyst George Morris says.
