The average oil exports in the Middle East region dropped by 60% last Sunday.

The latest survey data shows that in the week ending March 15, the average daily oil exports in the Middle East region decreased by about 61% compared to February, due to shipping interruptions and supply disruptions caused by regional conflicts. According to the global commodity market monitoring company Kpler, in the week ending March 15, the average daily exports of crude oil, condensate, and refined fuel from the eight Middle Eastern countries of Saudi Arabia, Kuwait, Iran, Iraq, Oman, Qatar, Bahrain, and the United Arab Emirates was 9.71 million barrels per day, a 61% decrease from February's 25.13 million barrels per day. Kpler estimates that these eight countries accounted for 36% of the global maritime oil exports of 70.43 million barrels per day before the conflict broke out. The company stated that the actual export volume may be lower because some crude oil is only stored in floating storage facilities and has not actually left the Gulf region to reach international markets.