Saudi, UAE, Iraq: Can three pipelines help oil escape Strait of Hormuz?
Al Jazeera
Countries in the Middle East have ramped up oil exports via pipeline to bridge the Strait of Hormuz gap.
As the United States-Israeli war on Iran enters its fourth week this weekend, pressure on oil and gas markets continues to mount due to severe disruption to shipping traffic through the Strait of Hormuz as well as attacks on and around key energy facilities in the Gulf.
In peacetime, 20 percent of the world’s oil and gas is shipped from producers in the Gulf through the Strait of Hormuz – the only route to the open ocean – including 20 million barrels of oil per day.
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