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Hormuz blocked, but Gulf crude shipments at pre-war level
The Times of India • • general
Key Points:
- Crude shipments from the West Asian Gulf region, excluding Iran, have returned to pre-war levels of about 16.5 million barrels per day in September, despite disruptions at the Strait of Hormuz.
- Before the war, 83% of the region’s crude crossed Hormuz, but in September, 40% was exported via pipelines in Saudi Arabia and the UAE, bypassing the chokepoint.
- Of the 60% of crude that physically crossed Hormuz, most was transported using shuttle tankers, with over 70% changing tankers offshore in the Gulf of Oman.
- Alternative pipeline routes significantly increased crude transport, with Saudi Arabia’s east-west pipeline loadings rising from 0.8 mbd to 4.3 mbd and UAE’s pipeline loadings to Fujairah increasing from 1.1 mbd to 2.7 mbd.
- The International Energy Agency reported releasing 325 million barrels from strategic reserves out of the 400 million barrels pledged to stabilize the market.
