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The Strait of Hormuz is most commonly used for oil trading through 2016
02/08/2017
The Strait of Hormuz, located in the Persian Gulf region between Iran and Oman, occupies the first place among the world's most widely used sea lanes for oil transport and trade in 2016.
According to data from the US Energy Information Administration, the Strait of Hormuz ranked first for six consecutive years between the international sea lanes used for oil transport and trade.
According to the Energy Information Administration, 18.5 million barrels of oil were transferred daily through 2016 across the Strait of Hormuz.
About 80 percent of the oil extracted in Saudi Arabia, Kuwait, the United Arab Emirates and Iraq was transported through the Strait of Hormuz to Asian markets.
The Straits of Malacca, near the coast of Malaysia, ranked second among the sea lanes, which were heavily used in 2016 to transport oil, at a daily rate of 16 million barrels.
The Suez Canal came in third place with 5.5 million barrels per day and the Bab al-Mandab Strait at 4.8 million barrels per day.
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