Oil Price Trends | Gulf Countries' Daily Average Oil Exports Plummet Over 60% Last Week

SighingCashier · 2026-03-18T22:00:12+00:00

According to data from shipping analytics company Kpler, due to the impact of the Iran war, oil exports from eight Persian Gulf oil-producing countries including Saudi Arabia, Kuwait, and Iran have dropped significantly, averaging only 9.71 million barrels per day, a decrease of approximately 61% compared to 25.13 million barrels in February. Vortexa data shows an even larger decline in exports, at only 7.5 million barrels, down 71%. International crude oil prices have consequently surged to a four-year high.

SighingCashier

2026-03-18 22:00:12

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According to data from shipping analysis company Kpler, due to disruptions and production cuts during the Iran war, the eight major Gulf oil-producing countries—Saudi Arabia, Kuwait, Iran, Iraq, Oman, Qatar, Bahrain, and the UAE—had an average daily oil export of 9.71 million barrels in the week ending the 15th of this month.

In February, these countries’ average exports reached 25.13 million barrels per day, meaning last week’s exports plummeted by about 61%. Before the outbreak of war between the US and Israel against Iran, these eight Gulf countries accounted for 36% of global maritime oil exports.

Vortexa’s data shows an even more significant decline, with these countries’ exports last week totaling only 7.5 million barrels per day, a 71% drop from February’s 26.1 million barrels per day.

International crude oil prices recently surged to their highest levels in four years, with some fuel prices also hitting record highs.

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