Commodities

Saudi Arabia, Iran Drive Up Oil Exports as Mideast Tensions Rise

Oil tankers around Iran’s Kharg Island oil terminal on Feb. 20, 2026. Tankers circled in bold were unmoved from Feb. 15. Tankers with a cross through have departed since Feb. 15.Source: Bloomberg

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By Julian Lee, Prejula Prem, and Alex Longley

February 25, 2026 at 5:39 PM UTC

Saudi Arabia and Iran are both accelerating oil exports, adding barrels to global markets at a time when the US is deploying military assets in the Middle East, creating uncertainty about future supply.

Saudi Arabia is on course to export the most crude in almost three years this month, while Iran has been rapidly filling up tankers in recent days. Combined flows from Iraq, Kuwait and the United Arab Emirates are set to climb almost 600,000 barrels a day from the same period in January, Vortexa Ltd. data show.