Hormuz Workarounds Keep Gulf Oil Flowing—at a Steep Cost
Ship-to-ship transfers and pipelines bypassing the Strait of Hormuz, where available, have become the primary export route for most Middle Eastern oil. Oil producers in the region have demonstrated what some see as remarkable adaptability to the new circumstances. In fact, it is a matter of survival
Source: OilPrice.com
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DW NOTE
The Strait has been shut for 208 days. There are no workarounds—global supply is down 5.7 million barrels per day and inventories are draining at 3 million b/d this quarter. "Flowing" is the wrong verb when WTI has fallen 18.8% from its high in a week.