Saudi Arabia increased September crude oil production by 12.2% to 8 million barrels per day by expanding Red Sea exports, despite Houthi claims of strikes on the Kingdom’s East-West pipeline. Meanwhile, US military forces reported assisting 1.5 billion barrels of oil through the Strait of Hormuz as Armenian regulators engaged in regional energy policy talks.
Global market
Saudi Arabia’s crude oil output rose 12.2% in September to 8 million barrels per day, supported by ship-to-ship transfers and redirected exports through the Red Sea port of Yanbu. Meanwhile, Houthi forces claimed attacks on pumping stations along Saudi Arabia’s East-West pipeline and the Riyadh airport. Addressing Persian Gulf security, Adm. Brad Cooper, commander of U.S. Central Command, stated that US forces supported the transit of 1.5 billion barrels of crude and 3,000 commercial vessels through the Strait of Hormuz over six months. In maritime shipping, Bahri and International Maritime Industries signed a SAR 1.692 billion contract for three VLCC tankers, while China captured 81.8% of global new ship orders in Jan-Sept.
Russia & CIS
Average domestic Ai-92 petrol prices in Russia declined by 85 kopecks per liter over the week as the government reported fuel market stabilization. On international energy diplomacy, Kirill Dmitriev, head of the Russian Direct Investment Fund, urged European nations to recognize their reliance on Russian gas, while Slovak Foreign Minister Juraj Blanar confirmed priority energy security talks in Moscow. At the Gas Exporting Countries Forum, delegates agreed on a draft final declaration, while the premium on Russian ESPO crude in China fell by $10 to $20 per barrel over Brent. Additionally, Gazprom Neft launched production of industrial compressor oils.
Armenia
Garegin Baghramyan, Chairman of Armenia’s Public Services Regulatory Commission, participated in a meeting of the Regional Association of Energy Regulators to discuss tariff stability and grid integration. The decline in Russian ESPO crude premiums to $20 per barrel and domestic petrol price reductions in Russia reinforce broader Eurasian market stability. Despite regional pipeline threat claims in the Middle East, retail prices for petrol, diesel, and compressed natural gas in Armenia remain stable. Direct natural gas imports from Russia and generation at the Armenian Nuclear Power Plant continue at full capacity under long-term EAEU contracts, protecting domestic consumers from global price shifts recorded in international market price assessments.