Key facts
- Vortexa said October Gulf flows of crude, condensate and refined products averaged 17.1 million bpd, about three-quarters of pre-war levels.
- Vortexa said crude and condensate exports averaged 14.0 million bpd in October, about 86% of pre-war levels.
- Vortexa said refined product exports averaged 3.1 million bpd in October, just over half of normal volumes.
- Vortexa said Saudi Arabia's exports were steady versus September while the UAE recorded the largest decline; Iraq, Oman and Kuwait exported less.
- Kpler said crude and condensate flows through Hormuz, the Red Sea and the Gulf of Oman averaged about 16.1 million bpd in October, down from 17.09 million bpd.
- Both companies said the figures exclude Iran, which is not exporting due to the US blockade.
Gulf oil exports dipped in October from September's levels, which were the highest since the Iran war started, according to data from ship-tracking companies Vortexa and Kpler. Both said the preliminary figures could be revised upwards as more details on shipments emerge.
Flows of crude, condensate and refined products, excluding LPG, averaged 17.1 million barrels per day in October, Vortexa said, down from 18.9 million bpd in September but still roughly three-quarters of pre-war levels. "October data shows Middle East seaborne oil exports have pulled back slightly from recent post-war highs on heightened risks in the Strait of Hormuz," Vortexa analyst George Morris said.
Vortexa said the October figure was more likely to be revised up than down because many shuttle tankers passing the Strait switched off tracking signals as a safety measure, meaning satellite imagery is often needed to confirm shipments and creating a reporting lag. Kpler also showed a drop, with crude and condensate flows down about 1 million bpd from September, and said an upward revision was likely.
Vortexa sharply revised up its September figure compared with data it made available to Reuters in early October as more information on tankers became available, the company said. Crude and condensate exports averaged 14.0 million bpd in October, about 86% of pre-war levels, while refined product exports averaged 3.1 million bpd, just over half of normal volumes.
At country level, Vortexa said Saudi Arabia's exports were steady compared with September, while the UAE recorded the largest decline. Iraq, Oman and Kuwait all exported less. Kpler's figures on crude and condensate flows through the Strait of Hormuz, the Red Sea and the Gulf of Oman averaged about 16.1 million bpd in October, down from 17.09 million bpd in September. Both companies' figures exclude Iran, which is not exporting due to the US blockade.