Middle East Oil Exports Plummet Amid Conflict, Data Shows

Oil exports from major Middle Eastern producers have significantly declined due to ongoing conflict, impacting global energy supply. According to Jin10, recent shipping data reveals that oil exports from eight key Gulf countries fell by over 60% compared to February's average levels. Data from Belgium-based market service firm Kpler indicates that during the week ending March 15, Saudi Arabia, Kuwait, Iran, Iraq, Oman, Qatar, Bahrain, and the UAE exported an average of 9.71 million barrels per day. In February, these nations averaged 25.13 million barrels per day, marking a 61% drop in exports. Before the conflict, these countries accounted for 36% of global maritime oil exports.