Exports of crude oil from the Middle East hit their highest level in September since the war with Iran began, reinforcing a trend of increased supplies despite Iranian attacks on shipping in the Strait of Hormuz, according to analysis of shipping and commodity market data by industry observers.
But while crude levels have risen, the refinery bottleneck that has caused a global spike in diesel prices persists. European Union figures published on October 1 showed diesel pump prices at record levels. Prices have also surged in the United States despite the recovery in oil exports.
“More oil is coming out of the Middle East Gulf than many expected that would be possible even just a few months ago,” Richard Meade, chief editor of Lloyds List, told an online briefing on October 1.
by RFE/RL – Oil Exports Find A Way Past Iranian Attacks, But Refinery Bottleneck Persists
