Saudi Crude Exports via Bab al-Mandeb Recover to 1.5 Million Bpd
Asharq Business reported that Saudi Arabia’s crude exports through the strait reached approximately 1.5 million barrels per day as of October 12, nearly half of pre-war levels.
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Middle East crude benchmarks Oman and Dubai extend decline
Middle East crude benchmarks Oman and Dubai extended their decline on Monday, sliding toward premiums of $20 a barrel. This comes as traders eyed a partial recovery in shipments from Saudi Arabia and stronger than usual flows through the Strait of Hormuz.
EIA raises 2026 oil price outlook after Middle East output losses
The EIA now expects Brent crude to average about $91 a barrel in 2026 and WTI $84.65, both higher than its prior forecast. The agency said global oil stocks have fallen by an estimated 400 million barrels this year and cited reduced Middle East production and exports.