economy
March 17, 2026
Middle East Oil Exports Down Over 60 Percent
Daily oil exports from the Persian Gulf have decreased by more than 60 percent last week, compared to the same period in February, according to data seen today by the British agency Reuters().
TL;DR
- Daily oil exports from the Persian Gulf decreased by over 60% in the week ending March 15th compared to February.
- Exports from Saudi Arabia, Kuwait, Iran, Iraq, Oman, Qatar, Bahrain, and the UAE averaged 9.71 million barrels per day in the specified week, down from 25.13 million barrels per day in February.
- Floating storage of crude oil in the Middle East has exceeded 50 million barrels, up from approximately 10 million barrels before the conflict.
- These eight countries constituted 36% of global seaborne oil exports prior to the conflict.