Despite increasing military tensions in the Hormuz Strait, Iran continues to export crude oil. The strait remains a critical transit point for global oil and LNG trade, with China buying more than 80% of Iranian oil.
Medianews.az reports that regarding this, "Kpler" and "TankerTrackers" companies, which monitor shipping and energy trade and analyze oil flows, have released information.
According to the information, China is the main buyer of Iranian oil exiting the Hormuz Strait. Chinese oil refineries, importing 1.3–1.4 million barrels of oil daily, maintain their supply despite the rising regional tensions. Since February 28, 11-12 million barrels of oil have been transported through the Hormuz Strait.
Experts state that the continuation of this export indicates Iran's economic dependence and the importance of energy cooperation with China.
Alan Gelder from "Wood Mackenzie" emphasized that Iran mainly conducts its exports via maritime trade routes. However, military tensions and US-Israel pressures pose an economic risk.
Alan Gelder also noted that Iranian oil reaches the Chinese market mainly through independent refineries operating outside the US financial system, creating a parallel trade channel. Although the daily export volume is small relative to the total global market size, it is vitally important for Iran.
Energy analyst Vandana Hari said that oil export is the main tool for sustaining Iran's economy during wartime. She stated that the destruction of infrastructure in the country could jeopardize the main source of income for economic recovery: "Iran faces not only the destruction of military and maritime capabilities but also of civilian infrastructure. If oil and natural gas production and related infrastructure are damaged, there is a risk of losing the main channel for economic restoration."
Medianews.az