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World Oil Transit Chokepoints
The following presents information on major world oil transit centers. Over 35 million barrels per day (bbl/d) pass through the relatively narrow shipping lanes and pipelines discussed below. These routes are known as chokepoints due to their potential for closure. Disruption of oil flows through any of these export routes could have a significant impact on world oil prices.
The information in this report is the best available as of March 2004 and is subject to change.
GENERAL BACKGROUND
Given the fact that oil consumption occurs mainly in the industrialized West, while oil production takes place largely in the Middle East, former Soviet Union, West Africa, and South America, a significant volume of oil is traded internationally. This oil is moved mainly by two methods: oil tanker ships and oil pipelines. About 2/3 of the world’s oil trade (both crude oils and refined products) moves by tanker. About 43 million barrels per day of that trade is crude oil. Tankers have made global (intercontinental) transport of oil possible; they are low cost, efficient, and extremely flexible.
Oil transported by sea generally follows a fixed set of maritime routes. Along the way, tankers encounter several geographic "chokepoints," or narrow channels, such as ...........
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