Saudi Arabia’s Oil Exports Are Seeing Challenges In Several Fronts. They Are Climbing Anyway.

Saudi Arabia's exports reached the highest level since the war in Iran began despite facing multiple challenges.

Riyadh is exporting six million barrels of oil per day, according to intelligence firm Kpler. It is the highest figure since the war in Iran began in late February and back to the monthly average of 2025.

Exports are climbing despite multiple threats to exports: Iran's chokehold on the Strait of Hormuz, an embargo of Saudi oil in the Red Sea declared by Yemen's Houthi rebels and the recent attack against the country's key East-West pipeline.

Despite all that, shipments climbed 80% in September compared to August. Riyadh resumed partial operations in the pipeline less than two weeks after shutting it down.

A previous report from last week noted that the company was seeking to return to full capacity in about six weeks. The pipeline transports about 4% of global oil supplies. Riyadh is immersed in an armed conflict with Yemen's Iran-backed Houthi rebels, which have set an embargo of Saudi oil going through the Red Sea.

Oil prices retreated on Friday morning after soaring on Thursday. Brent crude, the international benchmark, dropped 1.81% and stood below $105 a barrel at 3:29 p.m. ET, while West Texas Intermediate, the U.S. benchmark, fell 2.07% and clocked in at $92.65 per barrel at the same time.

Elsewhere, Iranian Foreign Minister Abbas Araghchi said the Strait of Hormuz will be reopen within seven days if the U.S. meets "certain conditions."

Speaking to press on the sidelines of the United Nations General Assembly, Araghchi said such a scenario will also herald renewed talks.

"The conditions we have asked the U.S. to meet are nothing new, nothing more than what was already in the Islamabad MOU, which was signed by the U.S. President," he added, in reference to the June agreement that kicked off nuclear talks but quickly fell apart as hostilities around the key waterway resumed.

A recent report claimed that Washington and Tehran are discussing a deal to end hostilities and gradually reopen the waterway. However, the talks still face challenges because neither side wants to take the first step, Reuters detailed, citing a source familiar with the conversation.

An Iranian official said a way out would be them taking partial steps, with Iran allowing unrestricted traffic to resume while the U.S. lifts its blockade of the country's ports and allows Tehran to access frozen assets.

Trump has called the initial talks "productive." "I think there's a lot of momentum for them to make a deal. That's what we are hearing from everybody," he added earlier this week.