Gulf oil exports recover, but why is the world still facing a $100 crude shock?
Gulf oil exports are recovering after months of disruption caused by the US-Israeli war with Iran, with crude exports from the Middle East’s main oil producers expected to reach 12.8 million bpd in September, the highest level since the war began in February, according to Kpler. Regional exports remain around 6 million bpd below the 18.8 million bpd shipped in February before the war began.
Why it matters: The incomplete recovery and stalled US-Iran talks keep energy security and oil-price risk central to the geoeconomic outlook for Asian importers such as India.