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Houthi "Return Journey" Casts Doubt: Gulf Oil Producers Ramp Up Shipments But Asian Imports Still Weak

Published 28/08/2026 04:48 · Updated 23:59 · TheBlockBeats

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but there is still a significant gap between Gulf oil-producing countries' accelerated loading and actual imports to Asia, casting doubt on the authenticity of the supply recovery.

Currently, traders estimate that approximately 6 to 8 million barrels of oil per day pass through the Strait of Hormuz, about half of the pre-conflict level.

Saudi Arabia, Iraq, Qatar, and Kuwait have recently seen a rebound in loading activities, with Iraq's daily loading capacity exceeding the pre-conflict level at one point.

However, some crude oil still needs to be transshipped through ports such as Oman's Sohar and the UAE's Fujairah, so an increase in loading does not necessarily mean that the oil has actually reached Asian buyers.

Kpler data shows that Asia's estimated crude oil imports in August are 23.12 million barrels per day, about 14% lower than the pre-conflict 3-month average of 26.91 million barrels per day.

India's August crude oil imports are expected to be only 4.51 million barrels per day, with imports from the Middle East at around 1.45 million barrels per day, only half of the pre-conflict average.

In addition, around 11.11 million barrels per day of Middle Eastern crude oil arrived in Asian ports in August, slightly higher than July's 10.76 million barrels per day but still nearly 30% lower than the pre-conflict 15.82 million barrels per day.

Analysts believe that the current gap between loading and arrivals may be partly due to transportation delays, and data over the coming weeks will be crucial in determining whether the supply through the Strait of Hormuz has genuinely recovered.

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