Shell CEO: Middle East oil flows near 80% of pre-war levels

Wael Sawan, CEO of Shell, said oil flows from the Middle East have reached about 80% of pre-conflict levels, offering one of the most reliable assessments yet of the region’s export recovery.

Speaking at the Energy Intelligence Forum in London, Sawan stated, "Despite everything happening, we are now close to more than 80% of pre-war levels, which demonstrates the resilience of many of these countries and their continued commitment to supplying the world."

He noted that the Iran conflict has brought energy security back into focus, as the G7 seeks to withdraw 100 million barrels from emergency reserves, and warned that oil market disruptions are likely to persist.

Challenges in tracking shipments

Major banks and shipping analytics firms have also reported that oil flows from the region are nearing pre-conflict levels, though precise figures remain disputed.

Sawan added that many vessels have stopped transmitting satellite signals, especially in the Strait of Hormuz and parts of the Red Sea, making it difficult to determine the actual number of shipments entering and leaving the region.