Fact Check: "20% of global liquid petroleum passes through the Strait of Hormuz."
What We Know
The Strait of Hormuz is a critical maritime chokepoint located between Oman and Iran, connecting the Persian Gulf with the Gulf of Oman and the Arabian Sea. It is recognized as one of the most significant oil transit routes globally. In 2022, oil flows through the Strait averaged approximately 21 million barrels per day (b/d), which accounted for about 21% of global petroleum liquids consumption (EIA). In the first half of 2023, this figure remained consistent, with flows still averaging around 20 million b/d, translating to about 20% of global petroleum liquids consumption (EIA).
Additionally, reports indicate that the Strait of Hormuz is responsible for a substantial portion of global liquefied natural gas (LNG) trade, with estimates suggesting that around 20% of global LNG also transits through this chokepoint (West Asia Review).
Analysis
The claim that "20% of global liquid petroleum passes through the Strait of Hormuz" is supported by multiple credible sources. The U.S. Energy Information Administration (EIA) consistently reports that the strait is a vital artery for oil transport, with figures indicating that it handled approximately 21% of global petroleum liquids in 2022 and about 20% in early 2023 (EIA, EIA).
Moreover, a report from Reuters corroborates these statistics, stating that the Strait of Hormuz is crucial for oil and LNG transport, with about 20% of global LNG flows also passing through it (Reuters). The reliability of these sources is high, as they are well-regarded institutions in energy reporting and analysis.
The claim is further reinforced by additional reports indicating that the strait remains a critical route for oil exports from major Middle Eastern producers, with very few alternative routes available for transporting oil if the strait were to be closed (Gulf News).
While some sources mention slightly varying percentages (e.g., 21% or 20%), the overall consensus aligns closely with the claim, confirming that the Strait of Hormuz is indeed responsible for a significant portion of global liquid petroleum transport.
Conclusion
Verdict: True
The claim that "20% of global liquid petroleum passes through the Strait of Hormuz" is accurate based on multiple credible sources that consistently report similar figures. The Strait of Hormuz plays a vital role in global energy security, facilitating a substantial volume of oil and LNG transport.
Sources
- The Strait of Hormuz is the world's most important oil transit ...
- Amid regional conflict, the Strait of Hormuz remains critical ...
- Strait of Hormuz: the world's most important oil artery
- The Strait of Hormuz: A Critical Chokepoint for Global Energy Security
- How Iran Threat On Strait Of Hormuz Could Affect Global, Indian Oil ...
- Strait of Hormuz: What is it and why is it important? - Gulf News