Middle East oil exports rose above prewar levels in September even as attacks on vessels increased around the Strait of Hormuz, shipping data showed.
The seven-day moving average for crude exports from the region reached 18.3 million barrels per day on Sept. 30, according to provisional data from ship-tracking firm Kpler reported by Reuters.
Cargoes topped prewar levels on 14 days during September. The data includes shipments through the Strait of Hormuz and the Red Sea, as well as exports from terminals. In the 12 months before the U.S.-Israeli war with Iran began, regional crude exports averaged about 18 million barrels per day.
Saudi Arabia and Iraq Lift Shipments
The increase was driven in large part by Saudi Arabia, which raised loadings from both the Red Sea and the Gulf three weeks after a Sept. 10 attack on its East-West pipeline, Kpler said.
Iraq’s state-owned Oil Tanker Company and some refiners also chartered tankers to load Basrah crude inside the strait after Baghdad secured Iranian permission for Iraqi oil tankers to pass through Hormuz.
Vortexa said the 14-day moving average for Middle East crude and condensate exports reached 18.6 million barrels per day, exceeding the 10-year seasonal average and returning to pre-conflict levels. Liquefied natural gas cargoes leaving the Strait of Hormuz also climbed in September to their highest level since February.
At Least Seven Maritime Incidents Reported
The recovery in exports has been accompanied by growing security risks. Shipping intelligence service Marisks reported at least seven tanker incidents during the past week.
The very large crude carrier Kazimah III was reportedly hit by an unknown projectile in the strait on Oct. 1, causing a fire. The Liberian-flagged Aframax tanker Lipsi was reportedly struck by another unknown projectile on Oct. 4 near Oman, damaging its engine room. The crews of both ships were reported safe, and no casualties were reported.
The United Kingdom Maritime Trade Operations agency has reported at least one attack a day in the Strait of Hormuz or the Gulf of Aden since Oct. 2. Marisks said the pattern may reflect Iranian weapons being fired into a predetermined engagement area rather than the deliberate selection of individual merchant vessels.
Before the war began on Feb. 28, the strait handled about 125 large commercial vessels a day and accounted for roughly 20% of global crude oil and liquefied natural gas supply. Higher exports ease the immediate supply risk, but repeated attacks continue to threaten shipping costs, insurance rates and delivery stability.