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Trump The Most Perfect And Manley, keeps insisting the Strait being closed is Europe's problem, so NATO should pry it open, but, in the next breath, he says he doesn't need NATO.
Hos much oil does Europe receive from the Persian Gulf?
from the net sifter:
Europe imports about 12% to 15% of its total oil supply from Persian Gulf states, which equates to roughly 700,000 barrels per day. While Europe relies primarily on Norway and the US for most of its petroleum, Gulf oil is essential for balancing supplies and acts as a major driver for global energy prices.
The Saudis can ship 7Mbpd via the Red Sea. If the Houthis close the strait at the south end of the Red Sea, the logical market for that Saudi crude is Europe.
Iraq has a pipeline from the north of the country, through Turkey, to the Med. Bumpy relations with the Kurdish government has inhibited use of that pipe, so Iraq is building a line to bypass the Kurdish area, with a capacity of 350,000bpd. The bypass is due to complete in a month.
Appears it is Asia that is in the kimchee wrt crude supply, not Europe.
Steve
