Al Jazeera: 70% of Middle Eastern oil has no alternative for the Strait of Hormuz

Al Jazeera: 70% of Middle Eastern oil has no alternative for the Strait of Hormuz 🔹The Qatari media Al Jazeera reported that disruptions in the Strait of Hormuz have caused oil production in the region's countries to decrease by more than 14 million barrels per day, and this issue alone resulted in over $15 billion in losses during the first few weeks of the war against Iran. 🔹Al Jazeera stated that some countries, such as Saudi Arabia and the United Arab Emirates, have attempted to mitigate the effects of this crisis by using existing pipelines, but ultimately over 70% of the oil from the Gulf countries has no way to bypass the Strait of Hormuz.