The Strait of Hormuz's Shaky Future: A Turning Point for Global Oil Trade? The war in the Middle East has disrupted oil supply chains, forcing exporters to adapt their strategies.
The Strait of Hormuz, a critical chokepoint for global crude oil exports, is particularly vulnerable due to ongoing conflict. Before the escalation, over 20 million barrels per day passed through the Strait.
However, daily flows have plummeted to between 6 and 8 million barrels per day, prompting exporters to diversify their routes. Qatar's LNG production has been severely impacted by damage to its Ras Laffan hub.