Saudi Hormuz oil shipments surge as post-war tanker backlog clearing (still below pre-war)
The pickup in Saudi flows signals more than a one-off clearing of stranded cargoes, with fresh tanker arrivals at Gulf terminals pointing to a genuine restart of export logistics rather than a temporary catch-up. That distinction matters for the supply outlook, since a sustained normalisation of Gulf loadings would add barrels back into the market beyond the immediate backlog. Even so, daily strait throughput remains well below typical levels, suggesting the recovery is still in its early stages and leaving scope for further upside in shipped volumes as confidence in the sea lane's safety builds.
--- Saudi Arabia shipped around 34 million barrels through Hormuz in the past two weeks, more than double the pace seen during the conflict-hit prior period, Kpler data (via CNBC) show.
Summary:
- Saudi Arabia has shipped around 34 million barrels of oil through the Strait of Hormuz since June 17, more than double the roughly 15 million barrels shipped between March 9 and June 17
- About 24 million of the barrels shipped since June 17 were loaded during or before the US-Iran war, indicating the kingdom is clearing a backlog of tankers unable to exit the Gulf during the conflict
- Around 17 million barrels of Saudi oil loaded before the war remains in the Gulf
- Riyadh had largely paused shipments from its Ras Tanura and Juaymah terminals from March 9, rerouting exports via the East-West pipeline to the Red Sea terminal of Yanbu
- Eleven supertankers bound for Saudi Arabia entered the Gulf between June 23 and July 1, with eight having loaded cargo and five already having exited Hormuz
- Hormuz tanker traffic fell to eight ships last Sunday before rising to 16 by Wednesday, when around 8.5 million barrels of crude passed through the strait, still well below the nearly 15 million barrels per day that transited the strait on average in 2025
Saudi Arabia has sharply ramped up oil shipments through the Strait of Hormuz since the United States and Iran signed an agreement last month to reopen the sea lane, with the kingdom's export logistics showing signs of a genuine restart rather than a temporary rebound. Riyadh has shipped around 34 million barrels of crude through Hormuz since June 17, according to trade intelligence firm Kpler, more than double the roughly 15 million barrels it shipped through the strait during the three months from March 9 through June 17, when tanker traffic collapsed under the weight of the conflict.
Put in perspective, that earlier conflict-era stretch averaged only around 150,000 barrels a day of Saudi flow through the strait, against a pace of roughly 2.4 million barrels a day over the most recent two weeks, an increase of more than fifteenfold. Kpler analyst Jashan Prema said Saudi crude flows inside the Gulf are reviving after months of conflict-driven rerouting. About 24 million barrels of the oil shipped since June 17 was loaded during or before the war, suggesting the kingdom is clearing a backlog of tankers that had been unable to exit the Gulf, while roughly 17 million barrels of pre-war Saudi oil remains stuck inside the Gulf.
Riyadh had largely paused shipments from its Ras Tanura and Juaymah terminals from March 9 after Iranian attacks caused tanker traffic through Hormuz to plunge, instead redirecting a substantial share of exports through the East-West pipeline to the Red Sea terminal of Yanbu. Prema said the current pickup reflects more than backlog clearance, pointing to eleven supertankers that entered the Gulf bound for Saudi terminals between June 23 and July 1, eight of which have already loaded cargo and five of which have exited Hormuz.
Broader strait traffic remains below historical norms even as shipments recover. Tanker transits fell to eight ships last Sunday before climbing to 16 by Wednesday, when around 8.5 million barrels of crude passed through Hormuz, still well short of the nearly 15 million barrels per day that transited the strait on average through 2025, underscoring how much room remains for a full recovery in the strait's overall throughput.
This article was written by Eamonn Sheridan at investinglive.com.提供 MainLink：Investinglive RSS Breaking News Feed
FX初心者には必須 無料のうちにGET！
