Middle East Oil Exports Rebound in September but Remain Below Pre-Conflict Levels
Major Middle Eastern crude exports rebounded to an estimated 12.8 million bpd in September, the highest since February's U.S.-Israeli war with Iran, as Saudi and UAE shipments rose.
MIDDLE EAST,ECONOMY
Global N Press
9/29/20261 min read
SINGAPORE, September 28, 2026 — Crude oil exports from major Middle Eastern producers rebounded to an estimated 12.8 million barrels per day in September, the highest level since the U.S.-Israeli war with Iran began in February, as Saudi Arabia and the United Arab Emirates increased shipments and traffic through the Strait of Hormuz partially recovered. Preliminary Kpler data showed that exports through Hormuz were on track to reach about 7.4 million barrels per day this month. Saudi Arabia redirected more crude toward its Ras Tanura terminal after attacks damaged its East-West pipeline and disrupted shipments from the Red Sea port of Yanbu. Despite the recovery, regional exports remained about 6 million barrels per day below February levels, while shipping costs and security risks stayed elevated.
Reuters reported on September 28 that Saudi Aramco was considering discounts of up to about $9 a barrel for crude loaded through ship-to-ship transfers off Oman, as high freight costs have made Gulf oil more expensive to transport to Asian buyers. Qatar-linked liquefied natural gas traffic through Hormuz has also begun to recover, with several LNG carriers recently transiting the waterway after limited visible activity in August. On September 29, Brent crude futures rose to $105.91 a barrel, reflecting continued market concerns over potential supply disruptions. The developments show that regional producers have restored part of their export capacity, but global energy markets remain sensitive to security conditions around the Middle East’s major maritime chokepoints.
