Middle East oil exports drop at least 60% as Strait of Hormuz stays mostly closed, data shows

Bloomberg03-17

Daily oil exports from the Middle Eastern Gulf, home to top exporter Saudi Arabia and other major producers, have dropped by at least 60 per cent in the week to March 15 compared to February due to ...

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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nMiddle East oil exports drop at least 60% as Strait of Hormuz stays mostly closed, data shows\n</h2>\n\n<h4 class=\"meta\">\n\n\n2026-03-17 01:13 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bnnbloomberg.ca/business/2026/03/16/middle-east-oil-exports-drop-at-least-60-as-strait-of-hormuz-stays-mostly-closed-data-shows/><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Daily oil exports from the Middle Eastern Gulf, home to top exporter Saudi Arabia and other major producers, have dropped by at least 60 per cent in the week to March 15 compared to February due to ...</p>\n\n<a href=\"https://www.bnnbloomberg.ca/business/2026/03/16/middle-east-oil-exports-drop-at-least-60-as-strait-of-hormuz-stays-mostly-closed-data-shows/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4570","symbol_name":"地缘局势概念股","start_time":0,"source_url":"https://www.bnnbloomberg.ca/business/2026/03/16/middle-east-oil-exports-drop-at-least-60-as-strait-of-hormuz-stays-mostly-closed-data-shows/","article_id":"2620449335","we_media_id":null,"thumbnails":["https://www.bnnbloomberg.ca/resizer/v2/56R6O6YLYNE3LPUKZYBCN2X7DQ.jpg?smart=true&auth=5e356ab889796f42cc9c86300b3e885bb69ae3f39cd83026ebfbd8287c359ce9&width=500&height=333"],"rights":{"source":"bnn_bloomberg_highlight","url":"https://www.bnnbloomberg.ca/business/2026/03/16/middle-east-oil-exports-drop-at-least-60-as-strait-of-hormuz-stays-mostly-closed-data-shows/","rn_cache_url":null,"directOrigin":true},"url":"https://stock-news.laohu8.com/highlight/detail?id=2620449335","pubTimestamp":1773681180,"columns":[],"sourceInfo":{"source_id":"bnn_bloomberg_highlight","name":"Bloomberg"},"weMediaInfo":null,"summary":"Daily oil exports from the Middle Eastern Gulf, home to top exporter Saudi Arabia and other major producers, have dropped by at least 60 per cent in the week to March 15 compared to February due to disruptions and output cuts amid the U.S.-Iran war, according to shipping data and Reuters calculations.","collect":0,"end_time":0,"defaultTopTitle":"bnnbloomberg.ca","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4570":"地缘局势概念股","BK4588":"碎股","BK4585":"ETF&股票定投概念","XLE":"SPDR能源指数ETF","XOP":"油气开采指数ETF-SPDR S&P","USO":"美国原油ETF","DUG":"二倍做空石油与天然气ETF(ProShares)","UCO":"二倍做多彭博原油ETF"},"translate_title":"数据显示，由于霍尔木兹海峡大部分关闭，中东石油出口下降至少60%","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"DUG":1.5,"XOP":1.5,"USO":1.5,"XLE":1.5,"UCO":0.6},"content_text":"Daily oil exports from the Middle Eastern Gulf, home to top exporter Saudi Arabia and other major producers, have dropped by at least 60 per cent in the week to March 15 compared to February due to disruptions and output cuts amid the U.S.-Iran war, according to shipping data and Reuters calculations.The effective closure of the Strait of Hormuz, normally used to transport about a fifth of the world’s oil supply, has forced exporters to cancel shipments and shut production at oilfields, creating the world’s biggest ever supply disruption. Crude oil prices have surged to the highest in four years and those of some fuels to record highs.Crude, condensate and refined fuels exports from eight Middle Eastern countries - Saudi Arabia, Kuwait, Iran, Iraq, Oman, Qatar, Bahrain, and the United Arab Emirates - in the week to March 15 averaged 9.71 million barrels per day, data from Kpler showed, down 61 per cent from 25.13 million bpd in February.Stay on top of your portfolio with real-time data, historical charts and the latest news on oilData from Vortexa shows an even more dramatic drop, with exports from the eight countries last week reaching 7.5 million bpd, down 71 per cent from February’s 26.1 million bpd.Prior to the war, the eight countries accounted for 36 per cent or global seaborne oil exports of 70.43 million bpd, according to Kpler.The actual exports could be even lower as some volumes go into floating storage but not leaving the Gulf.“Floating storage of Middle Eastern crude has surpassed 50 million barrels this week, up from pre-war levels of around 10 million barrels,” Kpler analyst Johannes Rauball said.Loadings from the UAE’s Fujairah port have been disrupted in the past few days due to drone attacks.Oil flows that are continuing include exports from Saudi Arabia’s Red Sea port of Yanbu, Iran’s exports, Oman’s exports and the UAE’s flows from Fujairah.Latest updates on international news hereTotal oil output cuts from Middle East producers have risen as the countries run out of storage and traffic through Hormuz remains a fraction of normal levels.Oil output in the United Arab Emirates, which pumped about 3.4 million bpd before the conflict, is down by more than half, Reuters reported on Monday. Saudi Arabia has cut production by 20 per cent, and Iraq by some 70 per cent. Total crude oil output cuts in the Middle East now stand at seven to 10 million bpd, according to analysts’ estimates.(Reporting by Ahmad Ghaddar and Alex Lawler, Editing by nick zieminski)","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.41.0","shortVersion":"4.41.0","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2620449335","isCrawlerRequest":true}