#Iranian Crude Oil

The Strait of Hormuz is the only maritime outlet for exports from Saudi Arabia, Iraq, the United Arab Emirates, Kuwait, Qatar and Iran.

Tensions in Iran

Strait of Hormuz: 10 basic questions about its importance to global energy and the world economy

The Strait of Hormuz is the world’s most critical maritime passage for oil and liquefied natural gas. About 20 million barrels per day of crude oil and equivalents pass through the waterway each day, representing roughly 20% of global petroleum liquids consumption and more than 25% of seaborne oil trade.

The Iranian Light Crude Oil and Iranian Heavy Crude Oil grades represent a source of national wealth.

A complete guide to Iranian oil

Iranian oil: technology, industry, processes, reserves, history and geopolitical challenges

A focal point of international tensions, Iran holds the world’s third-largest proven oil reserves, estimated at about 208 billion to 209 billion barrels at the end of 2024, accounting for roughly 12% of global reserves and 24% of those in the Middle East.