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Kpler: Middle East Crude Exports Top Pre-Iran-War Levels in Late September

Middle East crude exports exceeded pre-Iran-war levels on four of the seven days in the final week of September. Exports rose to between 19.5 million and 22.5 million barrels per day on Sept. 24 and from Sept. 27 to 29, up from a daily average of 18 million bpd in the year before the Iran war, March 2025 through February. Some vessels were attacked while crossing the Strait of Hormuz.

Original source

AI take

The signal here is less about volume than about resilience: flows through Hormuz are running above the pre-war baseline even with vessels being attacked, which suggests buyers and shippers have priced in a persistent risk premium rather than treating the strait as a chokepoint that can be closed. That matters most for Asian refiners dependent on Gulf barrels and for the insurance and freight markets that underwrite the route. Whether the higher export pace holds once the security incidents stop — or whether it reflects front-loading ahead of further disruption — is the open question.

Generated by AI for reference only.

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