Mideast oil exports surpass prewar levels despite pipeline, ship attacks
Bloomberg reported on Monday, citing sources, that Saudi Arabia’s key East-West Pipeline was flowing as normal, despite an earlier report that it had closed again following a new attack.
Middle East crude exports exceeded prewar levels for nearly half of September, preliminary data released Monday showed, but recent attacks on tankers and conflicting reports about a fresh attack on Saudi Arabia’s East-West Pipeline continue to threaten the region’s export recovery.
What happened: Regional crude exports exceeded prewar levels for 14 days in September, according to provisional data from ship-tracking firm Kpler reported by Reuters on Monday. The seven-day moving average reached 18.3 million barrels per day on Sept. 30.
The figures include shipments through the Strait of Hormuz and the Red Sea, as well as exports from terminals and ship-to-ship transfers in the Gulf of Oman.
The higher export volumes have come despite continued attacks on tankers. The Liberian-flagged Lipsi was struck by an unknown projectile in the Strait of Hormuz on Sunday, damaging its engine room, Reuters reported, citing maritime intelligence service Marisks. Another tanker, Kuwait’s Kazimah III, was struck in the strait on Oct. 1, causing a fire. Both crews were reported safe.
