Exports Surge: Kpler points out that crude oil and condensate exports from the Middle East Gulf and the Gulf of Oman have increased significantly since the end of July. The 7-day average export volume in September exceeded 15 million barrels per day (compared to only 7-8 million barrels per day at the end of July and 10-13 million barrels per day in August).
Strait of Hormuz Dominates: As a core passage, the Strait of Hormuz saw transit volumes of 10-15 million barrels per day for at least 5 days in September.
Driving Factors: The shift in export focus to the Persian Gulf is mainly due to a significant slowdown in Saudi Arabia's Red Sea trade.
Data Revision Note: Data for the most recent 14 days is preliminary and represents the lowest confirmed value. Further upward revisions are possible as shipments are verified.
