New York: Gulf States, including Saudi Arabia, are ramping up oil exports in response to escalating tensions between Israel and Iran. The largest oil-producing countries in the Arabian Gulf are loading tankers with exports as a precautionary measure against potential future unrest.

According to National Iraqi News Agency, the increase in oil exports is occurring despite higher insurance costs, shipping rates, and risks such as interference with navigation systems. Analysts suggest that oil producers are preparing for possible threats to oil export facilities or disruptions to shipping routes through the Strait of Hormuz.

The New York Times quoted Homayoun Falakshahi, head of crude oil analysis at Kpler Research, stating that Gulf states are focused on minimizing risks by exporting oil as rapidly as possible. Kpler estimates indicate a 16% rise in Saudi oil exports through mid-June compared to the same period in May, with UAE and Iraq increasing shipments by approximately 10%.

The strategy aims to transport as much oil as possible out of the Arabian Gulf, primarily to Asian markets like China, which is increasingly becoming a key customer for the region’s oil producers.