A 4-Million-Bpd Shadow Oil Highway Is Running Through Hormuz
U.S. Treasury Secretary Scott Bessent has predicted that the Strait of Hormuz will become “irrelevant” within two years, and with Gulf oil producers already building their way around it, millions of barrels may prove him right for a short time. Months into the Iran war, the UAE, Iraq, Kuwait and Qa
Source: OilPrice.com
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DW NOTE
The Strait of Hormuz has been effectively closed since April, with one ship transiting versus a normal 73 per day and 2,000 vessels still stranded in the Gulf. If 4 million barrels per day are moving through as claimed, they're doing it without ships — which means the headline describes either misrouted tanker tracking data or a volume that was rerouted months ago and is no longer news.