CNBC
09 Jun 2026, 04:59 UTC · 3h ago
Iraq and UAE race to establish alternative oil pipelines as exports through Hormuz dry up
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CNBC
09 Jun 2026, 04:59 UTC · 3h ago
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Iraq's oil exports through the Strait of Hormuz plummeted from 93 million barrels to 10 million barrels in April due to war-related closures. — A massive reduction in global crude supply from a major producer typically triggers a sharp spike in oil prices and increased market volatility.
-0.90Iranian drone and missile attacks have targeted Saudi Arabia's East-West pipeline and the UAE's Fujairah terminal, disrupting alternative oil loading operations. — Attacks on the 'fallback' infrastructure suggest that alternative routes are not safe havens, increasing the risk premium on energy prices.
-0.60Current alternative pipeline capacities (3.5 to 7 mb/d) remain significantly below the 20 million barrels per day that previously transited the Strait of Hormuz. — The wide gap between alternative capacity and original flow confirms a structural supply deficit that sustains higher price floors.
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Iraq is accelerating plans to increase crude exports through the Kurdistan-Turkey pipeline from 220,000 to 770,000 barrels per day. — Increasing alternative export capacity helps mitigate the supply shock, though the volume is small relative to the total lost Hormuz capacity.
+0.40The UAE is fast-tracking the West-East pipeline to Fujairah, expected to double ADNOC's export capacity by 2027. — Long-term infrastructure investment to bypass chokepoints reduces systemic geopolitical risk for oil markets over a multi-year horizon.
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