Covert Mideast Oil Flows Are Keeping Global Prices in Check

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The United Arab Emirates, Iraq, Qatar and Kuwait use discrete routes and manoeuvres in the Ormuz Strait, transporting oil with dedicated tankers to transfer it directly to other ships in the Gulf of Oman. The transhipment scheme allows for the maintenance of the global oil flow and the avoidance of risks from one of the world's hottest geopolitical zones.

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Bloomberg writes about this, citing sources familiar with the supplies.According to the publication, oil trade through the Strait of Hormuz continues at full pace. Part of the raw material is transported unnoticed, after which it is overloaded from one ship to another in the Gulf of Oman. Such a scheme allows tankers to partially bypass the risks associated with the passage of the strategic strait. Bloomberg interlocutors note that the volumes o…