Shell CEO says Middle East oil flows have recovered to more than 80% of pre-conflict levels

Shell CEO Wael Sawan said oil flows from the Middle East have recovered to more than 80% of their pre-conflict level, offering one of the clearest assessments so far of how far the region’s energy exports have rebounded. Speaking Tuesday at the Energy Intelligence Forum in London, Sawan said that despite recent disruptions, many countries in the region have shown resilience and continued to meet their commitments to supply energy to global markets. He said current flows are now above the 80% mark compared with levels seen before the conflict. His remarks come as several large banks and shipping data analytics firms have also assessed that Middle East oil flows are moving closer to pre-conflict levels. Even so, the exact pace and scale of the recovery remain disputed in the market. One reason is that vessel traffic through the Strait of Hormuz and parts of the Red Sea is difficult to measure precisely. According to the report, many ships frequently switch off their satellite positioning signals, making it harder for outside observers to estimate cargo volumes accurately.