Middle East Oil Flows Increase Through Hormuz Despite Attacks
- Reports
- 2
- Developments
- 1
- Repetition
- 50%
New informationRepeats or wire copies
What happened
Crude and condensate flows from the Persian Gulf reached a high of 24.6 million barrels a day during the week ending October 18, according to Kpler. Despite frequent attacks on merchant ships by Iran, the continued strong volumes show Middle Eastern producers are trying to maintain shipments. Kpler estimates Middle East flows for October so far at 16.7 million barrels a day.
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Why it matters
The high volumes demonstrate the desire of Middle Eastern producers to keep moving barrels, especially as they compete for customers to recover billions of dollars in missed sales during the conflict.
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Who's involved
- Saudi ArabiaProducer of oil shipments from the Middle East
- United Arab EmiratesProducer of oil shipments from the Middle East
- IraqProducer of oil shipments from the Middle East
- QatarProducer of oil shipments from the Middle East
- OmanProducer of oil shipments from the Middle East
- IranConducts attacks on merchant ships in the region
Who could feel it
Possible knock-on effectsThese are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.
- Saudi AramcoSpeculative
Saudi Aramco might increase its core oil revenue by boosting production to recover sales lost during the conflict.
- United Arab EmiratesSpeculative
The United Arab Emirates might maintain high production levels to ensure flows continue through Hormuz.
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The entities involved
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Saudi Arabia
country in West Asia
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UAE
computer emulator which emulates the hardware of Commodore International's Amiga range of computers
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Qatar
country in West Asia
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Oman
sovereign state in western Asia
Related events
- Global LNG supply is linked to the stability of the Strait of Hormuz, with oil loading monitored by Kpler and hints of a shift in the oil cartel involving Iraq.
- Houthis attacked Saudi oil tankers in the Red Sea while US strikes on Iran intensified the regional conflict.
- Macron toured the Middle East, seeking fuel supplies from Qatar, Bahrain, and Kuwait due to the Hormuz situation.
- Future Pipe Industries is restructuring its supply chain, sourcing raw materials from Oman and working with Saudi entities while replacing Chinese supplies.
- Houthis announced a maritime embargo against Saudi Arabia, while Iranian strikes targeted a U.S. base in Jordan, amid rising global tensions.