🔶 39% drop in Middle East oil exports amid continued blockage of the Strait of Hormuz

Based on data from the tanker-tracking institute (TankerTrackers), crude oil exports from the Middle East in August remain far below pre-war levels and have fallen by 39% compared with January and February of this year, when about 18.5 million barrels of oil were exported per day.

The institute said in a post on the social network X that the sharpest drop in exports occurred in May; when the export volume fell 67% compared with the pre-war period.

According to the institute, this shortfall in August reached 7.2 million barrels per day, while in May it was recorded at 12.4 million barrels per day.

The sharp export decline continues as the blockage of the Strait of Hormuz has amounted to one of the most severe disruptions to maritime transport in decades.