Gulf oil exports rebound, but rising tanker attacks threaten global supply

The recent export surge has been driven largely by Saudi Arabia loading tankers from both the Red Sea and the Persian Gulf. Fatemeh Bahrami / Anadolu via GettyShareAdd NBC News to GoogleOct. 5, 2026, 9:32 AM EDT / Source: ReutersBy ReutersGulf oil exporters topped prewar levels ​for about half of September, new shipping data showed on Monday, though attacks on tankers and logistical constraints cloud the outlook for ‌sustained higher flows.

Ships transiting the Strait of Hormuz face a “heightened and increasingly unpredictable kinetic threat” given the recent sharp increase in traffic, Marisks, a shipping intelligence service, said on Saturday.

The seven-day moving average for crude exports from the region was 18.3 million barrels per day on September 30, provisional data from Kpler showed, with volumes topping pre-war levels on 14 days in September.

That included Gulf oil ​sent Hormuz, via the Red Sea, and from terminals and ship-to-ship transfers in the Gulf of Oman.

Shipments had earlier matched or exceeded prewar levels on a handful of ​days in June and July, Kpler data showed, after Washington and Tehran reached a memorandum of understanding that has since ⁠lapsed.

Crude exports from the region averaged about 18 million bpd in the 12 months before the start of the US-Israeli war with Iran, according to Kpler.

The recent export surge has ​been driven by Saudi Arabia loading from both the Red Sea and the Gulf, three weeks after a September 10 attack on its East-West pipeline, Kpler ​said.

Iraq’s state-owned Oil Tanker Company and some refiners have chartered tankers to load Basrah crude inside the strait after Baghdad secured Iranian permission in August for Iraqi oil tankers to pass through Hormuz.

Shipping data provider Vortexa also said ​Gulf flows have recovered. It said that the 14-day moving average for Middle East crude and condensate exports hit 18.6 million bpd, exceeding the 10-year seasonal ​average and returning to pre-conflict levels.

“Most of this month-over-month increase seen in September comes from Saudi Arabia, which is ramping up exports to regain market share from other ‌Middle Eastern ⁠countries,” senior market analyst Xavier Tang said.

Liquefied natural gas cargoes exiting the Strait of Hormuz also rose in September to their highest since February.

However, attacks on tankers continued, with at least seven incidents reported in the past week, Marisks said, noting the very large crude carrier (VLCC) Kazimah III was struck on October 1 by an unknown projectile while in ​the strait, causing a fire onboard. Its ​owner, Kuwait Oil Tanker Company, did ⁠not respond to a request for comment.

Marisks said on Monday that the Liberian-flagged Aframax tanker Lipsi was struck by an unknown projectile on October 4 while transiting northeast of Jazirat Um Al Fayarin, Oman, in the Strait of Hormuz, damaging ​its engine room. Dynacom, its manager, did not immediately respond to a request for comment.

The crew aboard both tankers ​were reported safe, ⁠with no casualties reported, Marisks said.

The United Kingdom Maritime Trade Operations agency has reported at least one attack a day in the Strait of Hormuz or the Gulf of Aden since October 2.

Marisks said “the recent pattern of incidents may not necessarily represent deliberate targeting of individually selected merchant vessels.”

“Instead, available information indicates the possibility that Iranian forces ⁠are launching ​missiles into a predetermined engagement area or ‘kill box’, with weapons potentially acquiring and locking onto ​available radar signatures within that area.”

Before the Iran war started on February 28, the strait typically handled about 125 large commercial vessels per day, including tankers, gas carriers, bulkers and container vessels, ​accounting for some 20% of global crude and LNG supply.

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