Saudi Arabia’s crude exports track lowest monthly level since Iran War began

  • Saudi Arabia rapidly rerouted its Persian Gulf and Red Sea crude exports.
  • 3.23 million barrels per day was the average during August’s first 23 days.
  • Saudi Arabia’s shipments are tracking their lowest monthly level since the Iran War began.

Saudi Arabia’s combined crude exports from the Persian Gulf and Red Sea averaged 3.23 million barrels per day over the first 23 days of August. The pace puts the country on track for its lowest monthly export level since the start of the Iran War, as its oil flows are rapidly being rerouted.

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