Persian Gulf oil exports hit 72% of prewar levels
Crude oil exports from the Persian Gulf are rebounding toward pre-war levels despite ongoing Iranian threats and attacks in the Strait of Hormuz. September exports averaged over 13 million barrels per day, with some analysts reporting a recovery to 72% of pre-war levels. JPMorgan analysts estimate Middle East crude exports have reached 17.5 million barrels per day on a 10-day average, representing 98% of pre-war levels. The U.S. maintains that Iran is exhausted by a blockade, though Iranian forces recently struck a ship carrying U.S. forces on September 14.
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- β Persian Gulf crude exports averaged more than 13 million barrels a day in September.
- β Middle East crude exports have rebounded to a 10-day average of 17.5 million barrels per day, or 98% of pre-war levels, according to JPMorgan.
- β Oil prices have reached $100 a barrel amid the conflict with Iran.
- β Crude oil exports via Hormuz reached 33.7 million barrels this week.
What changed
Recent data shows a significant recovery in crude export volumes and a September average exceeding 13 million barrels per day.
Live updates
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Persian Gulf Oil Exports Recover Amid Continued Iranian Attacks
Crude oil exports from the Persian Gulf are rebounding toward pre-war levels despite ongoing Iranian threats and attacks in the Strait of Hormuz. September exports averaged over 13 million barrels per day, with some analysts reporting a recovery to 72% of pre-war levels. JPMorgan analysts estimate Middle East crude exports have reached 17.5 million barrels per day on a 10-day average, representing 98% of pre-war levels. The U.S. maintains that Iran is exhausted by a blockade, though Iranian forces recently struck a ship carrying U.S. forces on September 14.
Why it matters
The Strait of Hormuz is a critical global energy chokepoint where Iran has attempted to exert leverage through shipping attacks. U.S. protection of tankers has enabled the current rebound in flows. However, global oil prices have hit $100 a barrel due to conflict-related supply chain bottlenecks.
What is confirmed
- Persian Gulf crude exports averaged more than 13 million barrels a day in September.
- Middle East crude exports have rebounded to a 10-day average of 17.5 million barrels per day, or 98% of pre-war levels, according to JPMorgan.
- Oil prices have reached $100 a barrel amid the conflict with Iran.
- Crude oil exports via Hormuz reached 33.7 million barrels this week.
Still unconfirmed
- Donald Trump rejected a peace offer from Iran based on record oil shipments.
What to watch next
- Confirmation of the percentage of Gulf oil bypassing the Strait of Hormuz
- Official U.S. reports on the September 14 attack on Marines
- Reconciliation of diverging oil flow estimates between JPMorgan and Goldman Sachs
confidence 80%Sources used for this update (30)
- Reuters β Crude oil exports via Hormuz at 33.7 million barrels this week, data shows
- www.nbcnews.com β U.S. Marines injured in recent Iranian attack
- wsj.com β Stock Market Today: Oil Prices Strengthen, Bond Selloff Pauses β Live Updates
- New York Post β Persian Gulf oil exports hit 72% of prewar levels β as US says Iran is 'exhausted' by blockade
- Chatham House β New energy and trade routes could bypass Hormuz and change the Middle East. But major challenges remain
- iranintl.com β Hormuz oil flows rise despite Iran threats against shipping
- The Times β Trump rejects Iranβs peace offer claiming βrecord oil shipmentsβ
- WSJ β Q: How Much Oil Is Flowing Out of the Middle East?
- Yahoo β More oil passing through the Strait of Hormuz, data suggests
- nypost.com β Trump's Iran strategy is working β the ayatollah suffers as oil flows again
- Yahoo β Oil Flows Rebound in Persian Gulf as Iran Faces Mounting Economic Pressure
- nypost.com β Persian Gulf oil exports hit 72% of prewar levels β as US ...
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