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Security of Hormuz Strait Paramount

Energy Desk
Security of Hormuz Strait ParamountSecurity of Hormuz Strait Paramount

Threatening the security of the Strait of Hormuz, a crucial shipping route linking Middle East oil producers to international markets in Asia, Europe, North America and beyond, can translate into a potential risk for the world economy.
Close to 20 million barrels of crude and condensates are shipped through the strait per day. With global oil consumption amounting to about 100 million bpd, that means almost a fifth of world demand passes through the strategic strait.
Most crude exported from Saudi Arabia, Iran, the UAE, Kuwait and Iraq—all OPEC members—is shipped through the waterway. 

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