Standard Chartered: Gulf Oil Exports Recover, but Hormuz Strait Traffic Remains Depressed
Source Summary
Standard Chartered reports that Gulf crude and condensate exports reached approximately 16.5 million barrels per day in September, recovering to pre-war levels when including bypass routes such as Fujairah and the Red Sea. However, only 60% of those barrels transited the Strait of Hormuz in September, down from 83% before the war, indicating a significant shift in export routing patterns.
Why it matters
The data demonstrates that Middle Eastern oil producers are successfully circumventing traditional Hormuz chokepoint routes through alternative export corridors, reducing geopolitical vulnerability to strait disruptions while maintaining global supply volumes.
