World · Energy · Daily, monthly, quarterly and yearly
Global Oil and Gas
Last update: 01 Nov 2026
Brent crude closed at $123.10 a barrel on 27 Oct 2026, against $71.32 on 27 Feb 2026, the day before the war began. EIA estimates that oil through the Strait of Hormuz fell from 21.6 million barrels a day in Oct–Dec 2025 to 4.9 million barrels a day in Apr–Jun 2026.
Kpler's tanker tracking shows Gulf crude exports outside Iran back near their pre-war level in 1–28 Sep 2026, but only 9.9 million barrels a day of it crossed the strait, against 13.7 million barrels a day before the war; 6.6 million barrels a day went around it by pipeline. For the five US producers and Saudi Aramco, revenue in Apr–Jun 2026 was $102.1 billion higher than in Apr–Jun 2025; 33% of the increase became net income, 9% income tax and 49% paid for oil and products bought from others; production and operating costs took 1%.
- Brent price27 Oct 2026EIA via FRED · daily
- Ships through Hormuz25 Oct 2026IMF PortWatch · weekly
- Gulf shut-insSep 2026EIA STEO · monthly
- Company resultsQ2 2026SEC filings, Aramco · quarterly
- Production by countrySep 2026EIA monthly · Energy Institute yearly
- Database updated1 Nov 2026Published 1 Nov 2026
- Next update10 Nov 2026Occidental third-quarter 2026 results · expected
$123.10
Before the war (27 Feb 2026): $71.32
27 Oct 2026 · EIA via FRED
Oil through the Strait of Hormuz
EstimateGulf crude production shut in
EstimateTankers through Hormuz seen on AIS
Extra revenue kept as net income
Featured
Brent and WTI crude oil prices, daily
Spot prices in US dollars a barrel. Brent is the benchmark for oil traded across the Atlantic and from the Gulf; WTI for US oil. Shaded: the strait closed, the agreement to reopen it, and the renewed attacks and blockade.
For example: At $110 a barrel, a 2-million-barrel supertanker cargo is worth $220 million; at $70 it was worth $140 million.
US dollars a barrel
- Brent
- WTI
- Strait effectively closed
- Agreement to reopen
- Attacks and blockade resume
- 28 Feb 2026 Military action begins; the Strait of Hormuz is effectively closed. Brent: $71.32. EIA, Short-Term Energy Outlook, May 2026
- 18 Jun 2026 US–Iran memorandum of understanding to end the conflict and reopen the strait. Brent: $79.35. EIA, Short-Term Energy Outlook, July 2026
- 2 Jul 2026 Brent falls to its post-agreement low. Brent: $68.53. EIA, Short-Term Energy Outlook, August 2026
- 23 Jul 2026 Renewed attacks on tankers in the strait; Brent back above $100. Brent: $105.32. EIA, Short-Term Energy Outlook, August 2026
- 15 Sep 2026 Attacks halt Saudi Arabia's East-West pipeline to the Red Sea; Brent peaks. Brent: $130.80. EIA, Short-Term Energy Outlook, October 2026
- 22 Sep 2026 East-West pipeline partially resumes. Brent: $114.89. EIA, Short-Term Energy Outlook, October 2026
- 29 Sep 2026 US announces exchanges of 40 million barrels from the Strategic Petroleum Reserve. Brent: $113.96. EIA, Short-Term Energy Outlook, October 2026
1 · The Strait of Hormuz
Gulf oil exports by route
Gulf oil volumes against pre-war levels, by measure
Each row compares a published measure of the Gulf's oil with its level before the conflict began on 28 February 2026. They count different things: crude only or all oil, the strait or every route, ships or barrels.
Includes estimates
Through the strait itself, the volume is still below its pre-war level on every measure here: Kpler counts 9.9 million barrels a day of Gulf crude crossing in 1–28 Sep 2026, against 13.7 million before the war. What has recovered is the Gulf's total exports (16.5 million against 16.5 million), because far more now goes around the strait by pipeline. Single days swing widely when convoys sail: 20.8 million barrels crossed on 8 Oct 2026, close to EIA's pre-war average of 21.6 million barrels a day for all oil, and 2.9 million on 11 Oct 2026. A headline built on one day can say either thing.
| Measure | Before the war | Latest | Change | Source |
|---|---|---|---|---|
| Gulf crude exports outside Iran, all routes (million barrels a day) | 16.5 Mar 2025–Feb 2026 | 16.5 1–28 Sep 2026 | 0% | Kpler |
| … of which through the Strait of Hormuz | 13.7 Mar 2025–Feb 2026 | 9.9 1–28 Sep 2026 | −28% | Kpler |
| … of which around it, by pipeline to the Red Sea and Fujairah | 2.8 Mar 2025–Feb 2026 | 6.6 1–28 Sep 2026 | +136% | Kpler |
| All oil through the strait, crude and products (million barrels a day) | 21.6 Oct–Dec 2025 | 4.9 Apr–Jun 2026 | −77% | EIA |
| Tankers crossing with transponders on (a day) | 47.6 Mar 2025–Feb 2026 | 1.1 Sep 2026 | −98% | IMF PortWatch |
Kpler and Vortexa track tankers by satellite and port records as well as by their transponders, so they count ships that cross with transponders off; IMF PortWatch counts only ships that broadcast. Kpler's figures here are the ones it published; EIA's are its own estimates from Vortexa data. Kpler's and Breakwave's are estimates, not official counts.
Breakwave Advisors put Middle East crude exports outside Iran at 17.84 million barrels a day for 1–15 Oct 2026. Breakwave: almost 0.5 million barrels a day above February 2026, before the war. It names no tracker for this figure; it is not comparable with Kpler's narrower Gulf total.
Gulf crude exports outside Iran, by route
Million barrels a day leaving the Gulf's producers other than Iran: through the Strait of Hormuz, or around it by the Saudi pipeline to the Red Sea and the UAE pipeline to Fujairah. Kpler's tanker tracking, as published.
For example: If 10 barrels used to leave and 8 of them went through the strait, and now 10 leave with 6 through the strait, exports have recovered while traffic through the strait is still a quarter lower.
Includes estimates
Million barrels a day
- Through the strait
- Around it, by pipeline
Oil through the Strait of Hormuz and the Bab el-Mandeb
EIA's estimates of crude oil and petroleum products through each strait, million barrels a day, from Vortexa tanker tracking. Saudi oil sent by pipeline to the Red Sea leaves through the Bab el-Mandeb.
Includes estimates
Million barrels a day
- Strait of Hormuz
- Bab el-Mandeb
Tankers through four chokepoints
Average tankers a day, by month, counted by IMF PortWatch from ships' transponder (AIS) signals. Ships that switch their transponders off are missed, so since March 2026 the Hormuz line undercounts the tankers that cross.
Includes provisional data
Tankers a day
- Strait of Hormuz
- Bab el-Mandeb
- Suez Canal
- Cape of Good Hope
- Since the war began
Gulf crude oil production shut in, by country
EIA's estimate of crude production each country could not produce because its oil could not leave, million barrels a day: the March–July average, then August and September. Under each name, the country's production in February 2026.
Includes estimates
Million barrels a day shut in
- Mar–Jul 2026
- Aug 2026
- Sep 2026
2 · Oil companies
Allocation of oil companies' additional revenue
Change in revenue and its allocation: Five US producers and Saudi Aramco
Apr–Jun 2026 against Apr–Jun 2025. The first bar is the rise in revenue; each step takes away what went on one kind of cost; the last bar is what was left as extra net income. US$ billion, from each company's statement of income.
For example: A refiner that sells $10 more of fuel per barrel but pays $8 more for the crude keeps $2 of the rise before tax; a producer selling its own oil keeps nearly all $10 before royalties and tax.
Extra revenue
+$102.1B
Crude oil, products and gas bought from others49% of the extra revenue
−$49.5B
Production and operating costs1% of the extra revenue
−$1.1B
Gathering, processing and transport0% of the extra revenue
−$0.2B
Selling, general and administrative2% of the extra revenue
−$1.7B
Exploration0% of the extra revenue
+$0.5B
Depreciation, depletion and impairments4% of the extra revenue
−$4.2B
Royalties, production taxes and duties3% of the extra revenue
−$2.9B
Interest and everything else, net1% of the extra revenue
−$0.7B
Income tax9% of the extra revenue
−$9.0B
Extra net income33% of the extra revenue
+$33.2B
Production and operating costs include staff pay, maintenance, insurance of the company's own assets and the energy it uses. Purchases are crude oil, gas and fuel bought from others to refine or resell: when prices rise, that money passes to whoever sold the oil. Production taxes include royalties paid to governments (Saudi Aramco's royalties go to the Saudi state). A negative share means that cost fell.
Tanker freight and war-risk insurance on Gulf cargoes are mostly paid by whoever charters the ship, usually the buyer. EIA notes that record tanker rates in September 2026, reflecting higher insurance costs, are raising the delivered price refiners pay. See the shipping quotes below.
Share of the extra revenue kept as net income, by company
Of the extra revenue, the part that became net income and the part paid as income tax. Apr–Jun 2026 against Apr–Jun 2025. The line marks all six companies together.
Share of the extra revenue
- Net income
- Income tax
- All six: 33%
Producers that sell their own oil (ConocoPhillips, EOG, Occidental) keep a larger share than companies that refine and trade oil they buy (ExxonMobil, Chevron, Saudi Aramco's refining and trading arms), whose purchases rise with the price.
Net income by quarter, six oil companies
Each company's net income for the quarter, including minority interests, US$ billion, stacked. Hover a quarter for Brent's average that quarter. October–December 2025 is the last full quarter before the war.
US$ billion
- Saudi Aramco
- Chevron
- ConocoPhillips
- EOG Resources
- ExxonMobil
- Occidental
July–September 2026 results are due from 30 October (ExxonMobil, Chevron) to 10 November; see the release calendar below. Occidental's October–December quarters are left out: its annual report restated the year without the chemicals business it sold, while its nine-month figures still include it.
Cash in and out: Saudi Aramco
Cash from operations each quarter against what the company spent on new wells and plants (capital spending) and returned to shareholders as dividends and share buybacks, US$ billion.
US$ billion
- Cash from operations
- Capital spending
- Dividends
Saudi Aramco: price realized and net income per barrel
The average price Aramco received for its crude, and its net income for the quarter divided by every barrel of oil and gas equivalent it produced, US dollars. Hover a quarter for its production.
For example: Earning $30 billion in a quarter from 12 million barrels a day is about $27 a barrel; the same profit from 9.5 million barrels a day is about $35.
US dollars a barrel
- Price Aramco realized for its crude
- Net income per barrel produced
Freight and insurance costs for Gulf crude, as published
Supertanker hire and war-risk insurance quotes printed by brokers and analysts. No official series exists, so each figure names who published it; quotes for the same month differ.
For example: A supertanker carrying 2 million barrels from the Gulf to China and back takes about 50 days. At $650,000 a day that is about $32 million, or $16 a barrel; at $80,000 a day it was about $2.
Includes estimates
| What, and who published it | When | Value |
|---|---|---|
| Freight per barrel on a supertanker, Gulf of Oman to ChinaExcludes war-risk insurance and demurrage.Breakwave Advisors (23 October 2026) | 23 Oct 2026 | $15.60 |
| Freight per barrel on a supertanker, US Gulf Coast to ChinaExcludes insurance and demurrage. The longer voyage that avoids the Gulf.Breakwave Advisors (23 October 2026) | 23 Oct 2026 | $29.00 |
| Supertanker (VLCC) hire, Middle East Gulf to China, per dayThen an all-time high for the benchmark route of a tanker carrying 2 million barrels.LSEG data, as reported by CNBC (3 March 2026) | 2 Mar 2026 | $423,736 a day |
| Supertanker (VLCC) spot hire, Middle East to China, per day (shipbroker SSY)Record levels of over $500000 a day in September; other indices printed above $1 million on single days.SSY, as reported by Energy Intelligence (22 October 2026) | Sep 2026 | $500,000 a day |
| Supertanker (VLCC) hire, Gulf of Oman to China, per dayThe level two weeks before 23 October.Breakwave Advisors (23 October 2026) | 9 Oct 2026 | $913,000 a day |
| Supertanker (VLCC) hire, Gulf of Oman to China, per dayBreakwave Advisors (23 October 2026) | 23 Oct 2026 | $657,000 a day |
| War-risk insurance for one Hormuz transit, high end of quotes, % of the ship's valueA single figure was published for before the war.FairwayETA, compiling Marsh, Lloyd's Market Association and brokers (6 May 2026) | Feb 2026 | 0.25% |
| War-risk insurance for one Hormuz transit, high end of quotes, % of the ship's valueIndicative range; quotes vary daily.FairwayETA, compiling Marsh, Lloyd's Market Association and brokers (6 May 2026) | May 2026 | 5% |
| War-risk insurance for one Hormuz transit, high end of quotes, % of the ship's valueQuoted at a Lloyd's List Intelligence event.Trading sources, as reported by Energy Intelligence (22 October 2026) | Oct 2026 | 12.5% |
| War-risk insurance for one Hormuz transit, low end of quotes, % of the ship's valueBefore the war: around 0.25% of hull value. Energy Intelligence's October sources put the pre-war level nearer 1%.FairwayETA, compiling Marsh, Lloyd's Market Association and brokers (6 May 2026) | Feb 2026 | 0.25% |
| War-risk insurance for one Hormuz transit, low end of quotes, % of the ship's valueIndicative range; quotes vary daily.FairwayETA, compiling Marsh, Lloyd's Market Association and brokers (6 May 2026) | May 2026 | 1% |
| War-risk insurance for one Hormuz transit, low end of quotes, % of the ship's valueQuoted at a Lloyd's List Intelligence event.Trading sources, as reported by Energy Intelligence (22 October 2026) | Oct 2026 | 7.5% |
3 · World production and profits
Production and profits by country
Oil production by country
Crude oil, condensate and natural gas liquids, thousand barrels a day. Drag the slider or press play to move through the years from 1985.
For example: A circle twice the area of another stands for twice the oil, not four times: the radius grows with the square root.
2025World: 100.59M b/d
Largest, 2025
The fifteen largest circles on the map for the period selected, with each country's share of the world total and its change on the period before.
Oil production by country
Change in oil production since February 2026, by country
All petroleum liquids, million barrels a day, September 2026 against February 2026, the last month before the war, from EIA's monthly estimates. Countries that moved by less than 50,000 barrels a day are left out.
For example: A country that produced 4.6 million barrels a day in February and 2.7 million in May lost 1.9 million barrels a day.
Change in oil production, million barrels a day
Oil production in the Gulf, the US and Brazil, monthly
All petroleum liquids, million barrels a day, from January 2025, EIA's monthly estimates. Dashed lines: the United States and Brazil, the largest producers outside the Gulf that raised output.
Million barrels a day
- Saudi Arabia
- Iraq
- United Arab Emirates
- Kuwait
- Iran
- Qatar
- United States
- Brazil
Net income of listed oil companies, 2025
Each company's net income for the calendar year from its annual report, US$ billion; companies that report in euros, Canadian dollars or yuan converted at the year's average rate. Saudi Aramco in red. Pick Profits on the map and drag the slider to change the year.
Net income in 2025, US$ billion
Sources
Publishers in this snapshot
- Energy Institute, Statistical Review of World Energy 2026 ↗4,042 observations · Jan 1985 – Dec 2025 · verified
- EIA, Short-Term Energy Outlook (October 2026 data) ↗3,420 observations · Jan 2022 – Sep 2026 · verified
- IMF PortWatch (daily chokepoint transits from AIS ship positions) ↗1,868 observations · Jan 2023 – Oct 2026 · verified, some provisional
- U.S. Energy Information Administration, spot prices (via FRED) ↗1,530 observations · Jan 2014 – Oct 2026 · verified, some provisional
- Exalytics, from the companies' quarterly statements of income ↗450 observations · Apr 2026 – Jun 2026 · verified
- Exalytics, from the companies' annual reports ↗204 observations · Jan 2015 – Dec 2025 · verified
- EOG quarterly and annual reports (SEC EDGAR, XBRL) ↗160 observations · Jan 2024 – Jun 2026 · verified
- XOM quarterly and annual reports (SEC EDGAR, XBRL) ↗150 observations · Jan 2024 – Jun 2026 · verified
- CVX quarterly and annual reports (SEC EDGAR, XBRL) ↗150 observations · Jan 2024 – Jun 2026 · verified
- COP quarterly and annual reports (SEC EDGAR, XBRL) ↗150 observations · Jan 2024 – Jun 2026 · verified
- Saudi Aramco, quarterly data book (second quarter 2026) ↗127 observations · Jan 2019 – Jun 2026 · verified
- OXY quarterly and annual reports (SEC EDGAR, XBRL) ↗123 observations · Jan 2024 – Jun 2026 · verified
- EIA, Short-Term Energy Outlook, October 2026 (Table 1) ↗58 observations · Feb 2026 – Sep 2026 · some estimated
- Saudi Aramco, Third quarter and nine months interim report 2025 ↗22 observations · Jul 2024 – Sep 2025 · verified
- Saudi Aramco, Full year 2025 financial report ↗22 observations · Oct 2024 – Dec 2025 · verified
- Saudi Aramco, First quarter interim report 2026 ↗22 observations · Jan 2025 – Mar 2026 · verified
- Saudi Aramco, Second quarter and half year interim report 2026 ↗22 observations · Apr 2025 – Jun 2026 · verified
- Kpler, 'How Mideast Gulf crude exports returned to pre-war levels' ↗14 observations · Mar 2025 – Sep 2026 · some estimated
- TotalEnergies, annual report (20-F), SEC EDGAR ↗11 observations · Jan 2015 – Dec 2025 · verified
- BP, annual report (20-F), SEC EDGAR ↗11 observations · Jan 2015 – Dec 2025 · verified
- Equinor, annual report (20-F), SEC EDGAR ↗11 observations · Jan 2015 – Dec 2025 · verified
- ConocoPhillips, annual report (10-K), SEC EDGAR ↗11 observations · Jan 2015 – Dec 2025 · verified
- Canadian Natural, annual report (40-F), SEC EDGAR ↗11 observations · Jan 2015 – Dec 2025 · verified
- EOG Resources, annual report (10-K), SEC EDGAR ↗11 observations · Jan 2015 – Dec 2025 · verified
- Cenovus, annual report (40-F), SEC EDGAR ↗11 observations · Jan 2015 – Dec 2025 · verified
- Shell, annual report (20-F), SEC EDGAR ↗11 observations · Jan 2015 – Dec 2025 · verified
- ExxonMobil, annual report (10-K), SEC EDGAR ↗11 observations · Jan 2015 – Dec 2025 · verified
- Imperial Oil, annual report (10-K), SEC EDGAR ↗11 observations · Jan 2015 – Dec 2025 · verified
- Chevron, annual report (10-K), SEC EDGAR ↗11 observations · Jan 2015 – Dec 2025 · verified
- Occidental, annual report (10-K), SEC EDGAR ↗11 observations · Jan 2015 – Dec 2025 · verified
- Petrobras, annual report (20-F), SEC EDGAR ↗10 observations · Jan 2015 – Dec 2024 · verified
- Eni, annual report (20-F), SEC EDGAR ↗10 observations · Jan 2016 – Dec 2025 · verified
- Suncor, annual report (40-F), SEC EDGAR ↗10 observations · Jan 2016 – Dec 2025 · verified
- PetroChina, annual report (20-F), SEC EDGAR ↗8 observations · Jan 2015 – Dec 2022 · verified
- Sinopec, annual report (20-F), SEC EDGAR ↗8 observations · Jan 2015 – Dec 2022 · verified
- CNOOC, annual report (20-F), SEC EDGAR ↗6 observations · Jan 2015 – Dec 2020 · verified
- Woodside, annual report (20-F), SEC EDGAR ↗6 observations · Jan 2020 – Dec 2025 · verified
- YPF, annual report (20-F), SEC EDGAR ↗6 observations · Jan 2020 – Dec 2025 · verified
- EIA, Short-Term Energy Outlook, August 2026 ↗6 observations · Oct 2025 – Jul 2026 · some estimated, verified
- FairwayETA, compiling Marsh, Lloyd's Market Association and brokers (6 May 2026) ↗4 observations · Feb 2026 – May 2026 · some estimated
- Breakwave Advisors (23 October 2026) ↗4 observations · Oct 2026 – Oct 2026 · some estimated
- EIA, Short-Term Energy Outlook, October 2026 ↗3 observations · Sep 2026 – Sep 2026 · verified
- Trading sources, as reported by Energy Intelligence (22 October 2026) ↗2 observations · Oct 2026 – Oct 2026 · some estimated
- Kpler, as reported by Al Jazeera (14 October 2026) ↗2 observations · Oct 2026 – Oct 2026 · some estimated
- EIA, Short-Term Energy Outlook, May 2026 ↗1 observations · Feb 2026 – Feb 2026 · verified
- LSEG data, as reported by CNBC (3 March 2026) ↗1 observations · Mar 2026 – Mar 2026 · some estimated
- EIA, Short-Term Energy Outlook, July 2026 ↗1 observations · Jun 2026 – Jun 2026 · verified
- SSY, as reported by Energy Intelligence (22 October 2026) ↗1 observations · Sep 2026 – Sep 2026 · some estimated
- Breakwave Advisors, 'VLCC Spot Rates: Softer, but far from soft' ↗1 observations · Oct 2026 – Oct 2026 · some estimated
Snapshot
Citation and snapshot details
Dataset global-oil-gas-dd84549eb98e6648, refresh 7d27c3f8-36ea-537b-8a7a-294444875076, published 1 Nov 2026,
loaded into the database 1 Nov 2026. Every chart's table, CSV and Copy for AI carry each observation's Id,
status and source page.
Download the full snapshot: CSV · JSON
Coming up
- 10 Nov 2026 Occidental third-quarter 2026 results (July–September 2026), expected
- 10 Nov 2026 EIA Short-Term Energy Outlook (November 2026), expected
- 24 Jun 2027 Energy Institute Statistical Review of World Energy (2026 data), expected
Methodology and definitions
Coverage and definitions
Prices are spot prices in US dollars a barrel (gas: a million British thermal units). Production is in barrels a day: monthly figures (EIA) count all petroleum liquids, yearly figures (Energy Institute) crude oil, condensate and natural gas liquids; gas is in billion cubic metres a year. Company figures are in US dollars as each company reports them; Saudi Aramco's at its own rate of 3.75 riyals, and euro, Canadian dollar and yuan profits at the year's average rate. A company's revenue includes other income; costs are positive, so the headings add up to revenue. Estimated marks a publisher's estimate (EIA, Kpler, freight and insurance quotes); ships are those seen on AIS, which misses tankers sailing with transponders off.
Allocation of additional revenue
Each company's statement of income is put under the same headings, which add up to its revenue and other income. The change in each heading between two quarters, divided by the change in revenue, is its share of the extra revenue. Both quarters of a comparison come from the same filing where the company restated the earlier one. October–December is the annual report's year minus the first nine months.
Not covered
State oil companies that publish no accounts (Iraq, Kuwait, the UAE, Iran, Qatar) and Russian companies; tanker owners' and insurers' profits; monthly exports by country from customs. Freight and insurance quotes are as printed by their publishers and are not official data.
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