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A 4-Million-Bpd Shadow Oil Highway Is Running Through Hormuz

U.S. Treasury Secretary Scott Bessent has predicted that the Strait of Hormuz will become “irrelevant” within two years, and with Gulf oil producers already building their way around it, millions of…

  • U.S. Treasury Secretary predicts Strait of Hormuz will lose relevance within two years.
  • UAE, Iraq, Kuwait, and Qatar export over 4 million barrels per day via shadow export network.
  • 150 vessels stationed off Oman, increasing from 40 in January, for tanker shuttle transfers.

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