Saudi Arabia’s oil exports recover to 4M bpd in September after hitting decade low

Saudi Arabia’s oil exports have surged back above 4 million barrels per day in September, a dramatic reversal from the 2.4 million bpd recorded in August, which marked the kingdom’s weakest export month since at least 2013. The recovery, tracked by analytics firm Kpler, reveals how quickly Saudi Aramco can reroute its entire export infrastructure when circumstances demand it. The circumstances in this case: Houthi attacks that forced the suspension of the East-West pipeline, which normally carries crude from the kingdom’s eastern oil fields to its Red Sea port at Yanbu. No shipments have left Yanbu since September 12. So Aramco did what any resourceful operation would do when the front door gets blocked. It found a side entrance. The rerouting playbook With the East-West pipeline offline, Saudi Aramco concentrated loadings at its Gulf coast terminals, Ras Tanura and Juaymah. Combined output from those two facilities has hit roughly 4 million bpd, absorbing the volume that would have otherwise flowed through Yanbu. But the more creative maneuver involves ship-to-ship transfers. Aramco has sold approximately 60 million barrels earmarked for September and October loadings through tran...