Oil flow from Hormuz accelerated: 19 VLCCs passed Crude oil exports from the Middle East started to rise again in September, despite the tension around the
Oil flow from Hormuz accelerated: 19 VLCCs passed
Crude oil exports from the Middle East started to rise again in September, despite the tension around the Strait of Hormuz. According to Kpler data, the region's total crude oil exports reached 16.328 million barrels per day, the highest level since the conflict began in February.
Oil shipments via the Strait of Hormuz have also gained momentum again. According to the data, the amount of crude oil passing through the strait increased to approximately 9.719 million barrels per day. It was reported that 19 VLCC (Very Large Crude Carrier) tankers, each capable of carrying approximately 2 million barrels of oil, passed through Hormuz last week.
Saudi Arabia increased its exports
One of the most important reasons for the activity in the region was Saudi Arabia's rearrangement of export routes. While Saudi Arabia's crude oil exports were at the level of 2,446 million barrels per day in August, it increased to approximately 5.4 million barrels in September.
While some producers are trying to use alternative routes due to security risks around Hormuz, the re-intensification of tanker traffic is considered a critical indicator for global energy markets.
Pressure continues in the tanker market
Increasing shipments also directly affect the tanker market. While the supply-demand balance is tightening, especially in the VLCC segment, high demand and security risks push freight prices up.
Longer waiting times for ships around the Gulf of Oman and the Arabian Sea increase costs for tanker operators, while oil buyers are looking for alternative loading and transfer points.
Source: SeaNews Türkiye
