Gulf oil flows dip in October from post-Iran war high, data shows
USO•Gulf crude, condensate and refined-product exports averaged 17.1 million barrels per day in October, down from 18.9 million bpd in September, Vortexa said. Both Vortexa and Kpler said the preliminary figures could be revised higher.
1. October exports declined
Gulf crude, condensate and refined-product exports, excluding liquefied petroleum gas, averaged 17.1 million barrels per day in October, down from 18.9 million bpd in September, Vortexa said. The October total was about three-quarters of pre-war levels. Kpler’s figures showed crude and condensate flows fell about 1 million bpd from September.
2. Figures may be revised
Both tracking companies said October exports could be revised higher as more shipment details emerge. Tankers switching off tracking signals around the Strait of Hormuz have made flows harder to monitor, and satellite imagery is often needed to confirm shipments. Vortexa said crude and condensate exports averaged 14.0 million bpd in October, about 86% of pre-war levels, while refined-product exports averaged 3.1 million bpd, just over half of normal volumes.
