Saudi Arabia's oil exports reached 4 million barrels per day in September, recovering from a low of 2.4 million barrels per day in August. This August figure was the lowest monthly export volume for the kingdom since 2013. The recovery was tracked by the analytics firm Kpler.
The surge follows the suspension of the East-West pipeline due to Houthi attacks, which halted shipments from the Yanbu port on September 12. Saudi Aramco shifted operations to its Gulf coast terminals, Ras Tanura and Juaymah, which now handle approximately 4 million barrels per day.
Aramco is also utilizing ship-to-ship transfers at the port of Sohar in Oman. Approximately 60 million barrels scheduled for September and October are being routed through this location for buyers in China, South Korea, India, and Japan. This strategy bypasses the Red Sea route entirely.
Maritime data shows that oil transit through the Strait of Hormuz rose from 1.2 million barrels per day on September 1 to 1.9 million barrels per day by mid-month, representing a 58% increase. Overall Middle Eastern oil flows averaged 17.1 million barrels per day in the first half of September.
The increased supply has impacted global markets, with Brent and WTI futures declining by more than $1 per barrel. While the current logistics plan maintains export levels, it introduces higher costs and complexity compared to direct loadings at Yanbu, while increasing reliance on the Strait of Hormuz.
