Oil Pathways Flashcards
What percentage of oil is transported by tankers on fixed shipping routes?
50% of oil is moved by tankers on fixed shipping routes.
What is the significance of the Strait of Malacca in the context of oil transportation?
The Strait of Malacca, located between Malaysia and the Indonesian Island of Sumatra, is the primary choke point in Asia. It accounts for 25% of all traded goods and 2/3rds of all seaborne oil.
How wide is the Suez Canal, and what percentage of global trade passes through it daily?
The Suez Canal is only 205 meters wide, and 12% of global trade passes through it each day.
What incident occurred in March 2021 involving the Suez Canal, and what was its impact?
In March 2021, the Suez Canal was blocked for 6 days by a 200,000-tonne ship called the Ever Given. This resulted in a $14-$15 million loss for each day the boat was stuck.
