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US EIA reminder: Strait of Hormuz world’s most important oil chokepoint; almost 20% of oil traded worldwide

Green Car Congress

DECEMBER 31, 2011

More than 85% of the crude oil exports flowing through the Strait went to Asian markets, with Japan, India, South Korea, and China representing the largest destinations, EIA said. million-bbl/d Tapline to Lebanon. Use of the alternate routes would increase the cost of transportation. —US EIA. Suez Canal/SUMED Pipeline.

Oil 297
Oil Panama Saudi Arabia United Arab Emirates 297
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Opinion: Saudi Oil Strategy: Brilliant Or Suicide?

Green Car Congress

AUGUST 13, 2015

In the last quarter of 2014, in the face of possible oversupply, Saudi Arabia abandoned its traditional role as the global oil market’s swing producer and therefore it role as unofficial guarantor of existing ($100+ per barrel) prices. In other major export markets, demand is stagnant. is no longer a growth market for oil exporters.

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Saudi Arabia Oil Iraq Iran 150
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