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The Ormuz Strait Gradually Loses Its Relevance: only 63% of Middle East Oil Exports Pass Through the Ormuz - the New Pipelines Will Decrease the Weight to 40%
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Exports of crude oil from Middle East producers transiting the Ormuz Strait fell to about 63% of the total, from about 83% before the US-Israel war against Iran, as Saudi Arabia and other Gulf States redirect ever greater volumes to alternative routes, especially through the Red Sea. TankerTrackers data shows [...] The Ormuz Strait is gradually losing its relevance: only 63% of exports of crude oil from the Middle East pass through the Ormuz – t…
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