However, tensions in the Middle East remained elevated as Yemen's Iran-backed Houthis said they attacked "sensitive" sites in the Saudi capital of Riyadh on Saturday with missiles and drones, as well as an Aramco facility in the Red Sea city of Yanbu, a key oil export hub.
China has asked Iran to help rein in the Houthis after an appeal to Beijing by Saudi Arabia following the attacks, according to three Iranian sources familiar with the matter.
The attacks by the Houthis on Saudi Aramco's East-West pipeline have prompted the state energy firm to increase exports through the Strait of Hormuz this month and next after halting some shipments via Yanbu.
That enabled exports from the OPEC kingpin to recover to over 4 million barrels per day (bpd) so far in September after slumping to 2.4 million bpd in August, the lowest since at least 2013, according to provisional data from analytics firm Kpler.
"Middle East oil flows remain surprisingly strong despite the disruption to Saudi Arabia's East-West pipeline," JPMorgan analysts said in a September 18 note, adding that the total oil flows averaged 17.1 million bpd in the past 10 days, just 6.1 million bpd below the 2025 average.
"The most notable pivot has come from Saudi Arabia," the analysts said, as satellite data indicated Saudi oil moving through the Strait of Hormuz averaged 2.9 million bpd over the past six days, up from just 700,000 bpd in August.
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