Crude Recovery: Exports through the Strait of Hormuz have returned to prewar levels at 13.5 million barrels per day, with total Middle East crude exports reaching 19.5 million bpd, surpassing the prewar baseline.
Operational Workarounds: Gulf producers and the US military use tanker shuttles, ship-to-ship transfers, and pipeline bypasses to maintain flows, reducing Iran’s control over the strait.
Refined Fuels Shortage: Despite crude recovery, refined product flows remain 81% below prewar levels, keeping global consumers under economic pressure and sustaining a fuel crisis.
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