Energy Security & Oil Flows: Middle East crude exports (excluding Iran) bounced back to pre-war levels in September, with Kpler/Vortexa data showing 18.3m bpd on Sept. 30 and 14 days above pre-war averages, even as tanker attacks and route uncertainty persist. Shipping Risk: Analysts warn the Strait of Hormuz remains a “heightened and increasingly unpredictable” threat, pushing more cargoes to bypass the chokepoint via Red Sea routes and offshore tanker shifts. OPEC+ Policy: OPEC+ kept November output targets unchanged, with Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria and Oman maintaining September levels amid infrastructure attack risks and maritime disruption. Saudi Infrastructure Hit: Reports say Saudi Arabia’s East-West pipeline was attacked again near Khurais, halting flows after earlier damage, while Aramco’s CEO Amin Nasser said global oil stockpiles are “scarily thin.” Iraq Logistics: Iraq’s state carrier “Iraqi Line” plans to resume regular Gulf maritime services after a 50-year gap, with a maiden voyage from Jebel Ali to Umm Qasr on Oct. 15. Regional Energy Corridor: Türkiye says its Development Road could become a $80B-a-year energy corridor linking Iraq and the Gulf to Europe via Basra and onward transport networks. State Control Push: Iraq’s PM set a deadline of June 30, 2027 to bring paramilitary weapons under state control, starting with a 90-day cessation of military activity beginning Sept. 30.