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Controversy over Hormuz oil flow
The oil market is witnessing a debate over the volume of crude flowing through the Strait of Hormuz. The U.S. Department of Energy estimates that the flow is much faster than what shipping tracking data suggests, which only estimates exports at about 11 to 12 million barrels per day—a figure significantly lower than the 20 million barrels before the war. Washington believes that the data includes all shipments leaving the Gulf, while private companies question this and confirm that the movement does not justify the higher numbers, especially with the increased use of ships that conceal their locations. The importance of these figures lies in their impact on the stability of the global market supply, as an increase in exports could boost inventories and delay a potential global shortage in supply.
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