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(Bloomberg) — Saudi Arabia’s crude oil exports have surged to roughly pre-war levels since the kingdom resumed cargo loadings inside the Persian Gulf, more evidence that supplies from the region’s producers are recovering in the wake of an interim US-Iran peace deal.
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The world’s top exporter shipped 6.3 million barrels a day of crude oil in the six days through Wednesday, tanker-tracking compiled by Bloomberg shows. That puts flows at about the same as their 2025 average and at almost 90% of February, a month in which the country and its gulf neighbors were ramping up supplies before the Iran war began.
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The interim peace deal agreed by the Washington and Tehran included an agreement that ships could pass through Hormuz again. However Iran’s Islamic Revolutionary Guard Corps has nevertheless continued to claim it controls the waterway, vital corridor for oil to reach the global market.
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While short-term averages of exports can be volatile, Saudi ships have been ramping up volumes from Ras Tanura over the past week, sending its first supertankers into the Gulf of Oman since the Iran war began. That’s boosted exports alongside flows from the port of Yanbu on its west coast.
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The 6.3 million barrels a day figure is a combined count of shipments from both Yanbu and Saudi Arabia’s Persian Gulf ports. If sustained, the shipments would mark a significant jump on June levels, which were at about 4.45 million barrels a day, according to tanker tracking data compiled by Bloomberg.
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There are also several tankers that could well depart on Thursday, further boosting flows.
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Saudi Arabia’s energy ministry didn’t immediately respond to a request for comment.
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—With assistance from Julian Lee and Grant Smith.
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English (US)