September 28, 2026 [Oil Price]- Crude oil exports from the Middle East have rebounded to 12.8 million barrels per day (bpd) in September 2026, primarily driven by Saudi Arabia, which is exporting 5.4 million bpd. This shift follows a redirection of oil flows from the west to the east, utilizing ship-to-ship transfers in the Gulf of Oman. Despite this improvement, exports remain below the pre-war average of 17 million bpd. Additionally, tanker traffic in the Strait of Hormuz has decreased, with reports of potential missile strikes on vessels amid rising tensions following the U.S. rejection of Iran’s peace proposal.
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