PERSIAN GULF—The crisis in the Strait of Hormuz has forced
Gulf oil producers to accelerate the use of alternative routes to maintain
energy supplies to international markets.
U.S. Energy Secretary Chris Wright reported that
approximately 15 million barrels of oil per day are currently leaving the
region via a combination of shipping routes and transport systems that bypass
the strategic strait.
According to Wright, roughly 9 million barrels per day are
leaving through the Strait of Hormuz itself, while another 5 to 7 million
barrels per day are being transported via modernized pipelines and other export
facilities that circumvent the bottleneck.
This figure is significant because the Strait of Hormuz
normally handles about 20 million barrels per day of oil and petroleum
products, equivalent to approximately a quarter of the world's maritime oil
trade.
Saudi Arabia and the United Arab Emirates have
infrastructure that allows them to transport part of their production without
relying directly on the Strait of Hormuz. The International Energy Agency
estimates that there is between 3.5 and 5.5 million barrels per day of capacity
to divert crude oil via alternative routes, primarily through Saudi Arabia and
the UAE.