Gulf crude exports recover
Seven months after the Strait of Hormuz closed, Middle East Gulf crude exports excluding Iran have returned to pre-war levels, reaching at least 16.5 mbd in September. The recovery has reshaped regional #
oil# logistics. Around 40% of crude now leaves without crossing Hormuz, up from 17% before the war, as Saudi Arabia and the UAE make greater use of pipeline routes. Of the #
crude# that crossed Hormuz in August, more than 70% changed tankers offshore. The volumes have recovered, but through a fundamentally different export system.
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