The Strait of Hormuz is the world's most important oil transit chokepoint

The Strait of Hormuz, located between Oman and Iran, connects the Persian Gulf with the Gulf of Oman and the Arabian Sea. The Strait of Hormuz is the world’s most important oil chokepoint because of the large volumes of oil that flow through the strait. In 2018, its daily oil flow averaged 21 million barrels per day (b/d), or the equivalent of about 21% of global petroleum liquids consumption. Source: Today in Energy – The Strait of Hormuz is the world's most important oil transit chokepoint

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Source: CTRM Center

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