Oil and Fuel Exports Near Prewar Levels with Alternate Routes, Data Firm Says

Alternate export routes and a U.S.-protected route through the Strait of Hormuz have helped restore oil and fuel exports from the Gulf to near prewar levels, according to figures from data firm Kpler, Agence France-Presse (AFP) reported.

Alternative export corridors are helping restore crude and fuel shipments toward prewar levels.

Exports through the Red Sea and the Suez Canal, along with a pipeline to Fujairah on the Gulf of Oman and a U.S.-protected route that guides tankers at night, have been key workarounds after the threat of Iranian attacks disrupted shipping through the Strait of Hormuz, Kpler said during a recent podcast.

About 21.8 million barrels per day of crude and fuel products made from crude are being shipped weekly, on average, compared with the prewar baseline of 23.3 million barrels per day, Kpler said.

“We are getting closer to the norm, we are not at pre-conflict levels, but we are getting close to there,” said Matt Smith, Kpler’s director of commodity research.

Still, the workarounds are time-consuming and expensive.