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

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With Iran’s current threat to close the Strait of Hormuz in response to sanctions as a backdrop, the US Energy Information Agency issued an update to its “World Oil Transit Chokepoint” brief ( earlier post ), noting that “ Hormuz is the world’s most important oil chokepoint due to its daily oil flow of almost 17 million barrels in 2011, up from between 15.5-16.0 The Strait of Hormuz and alternate routes (pipelines).

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