Preliminary shipping-tracking data show Saudi oil exports in October remain near
wartime-high levels despite attacks on Saudi energy infrastructure and reports
of increased Iranian strikes in the Strait of Hormuz. Vortexa estimates Saudi
daily exports via east and west coasts at 6.5 mln b/d Oct-to-date versus a 6.6
mln b/d full-month average last month; Tankertrackers.com puts the Oct average
at 6.99 mln b/d, back to pre-conflict levels; Kpler reports 5.4 mln b/d, below
September. The divergence largely reflects tankers switching off satellite
transponders/AIS to mask locations and reduce attack risk. Aggregate shipping
data suggest Gulf oil flows are broadly recovering toward pre-conflict volumes.
