Saudi Arabia shipping volume in October remains strong
Published
Despite the war, Saudi Arabia in October has shipped about 6.5 million barrels a day, which is almost the same as September's 6.6 million. The trackers disagree on the exact number, with one saying it is back to the pre-war level of about 7 million and another saying only 5.4 million. That gap exists because tankers are turning off their location transponders to avoid being attacked, so nobody can see everything that is moving.
Most of the oil still leaves through the Persian Gulf, about 4 million barrels a day, though attacks keep interrupting that route. Another 2.5 million barrels a day goes out through the Red Sea port of Yanbu. Exports recovered because a key pipeline that was shut by an attack last month is running again, so both routes are open now.
Saudi Arabia pumped over 8.3 million barrels a day in September, a wartime high, and its own refineries use about 3 million of that. One refinery, Jazan, is shut after Houthi attacks. Aramco is also asking some Asian buyers to start loading at Yanbu again in November, and it is letting European buyers whose cargoes were canceled bid on new ones.
All this supply is easing the squeeze on prices. The extra premium buyers pay for Gulf crude has fallen from almost $34 a barrel in September to about $6. Other Gulf producers are helping, with Kuwait back to pre-war export levels, Iraq close behind, and the UAE producing at record highs.
The risk is that Saudi Arabia is under pressure from several directions. Airports and oil sites have been hit, Riyadh's financial district is effectively shut, and Iran is reportedly striking tankers near the Strait of Hormuz. That makes oil income even more important for the country right now.
© Raydn · raydn.us
Why it matters
This item marks the clearest evidence yet that Saudi export volumes are holding up despite the attack campaign, with October flows nearly matching September and the Gulf premium collapsing from $34 to about $6 a barrel. That contrasts sharply with the dueling narratives from Washington and Tehran over whether Hormuz traffic has normalized or remains blockaded (Oct 22 11:40, Oct 23 04:23), since this report offers tracker-based volume data rather than competing claims. It confirms the east-west pipeline and Yanbu route are functioning well enough to offset disruption risk even as strikes keep reaching Riyadh and Aramco's own facilities, though Saudi Arabia's growing financial reliance on oil income leaves that resilience exposed if any single attack actually confirms damage to loading or refining capacity.