The war that has been going on for 40 days between Iran and America has temporarily stopped. US President Donald Trump announced a two-week ceasefire, although reports of attacks have not stopped completely. In the war between Iran and America, those countries which are known as Kuberas of oil were also affected. Known as a big exporter of oil across the world. Oil supply across the world was disrupted due to Iran’s control over the Hormuz Route.
Over the past six weeks, petrol prices rose in more than 100 countries. Many countries declared energy emergency. The direct reason for this was the inability of Middle East countries to get oil from Hormuz. Know who suffered the most loss among the Middle East countries that sell oil to the world.
Who got the biggest shock?
Shipping data from Kpler, a data and analytics firm that monitors commodity markets, provides many interesting insights. According to the data, the total export of oil from only Iraq, Kuwait, Oman, Qatar, Saudi Arabia and United Arab Emirates was 469 million barrels in February, which fell to 263 million barrels in March. That means there has been a decrease of 44 percent. There are some countries in this which suffered the most.
According to Al Jazeera’s report, the decline that occurred in six countries has had the biggest impact on some selected countries. These were the countries that depended on ports and pipeline options.Iraq has suffered the biggest blow in terms of losses. Iraq exported 94 million barrels of crude oil in February, which dropped to only 17 million barrels in March amid the war. If we compare Kuwait, Oman, Qatar, Saudi Arabia and United Arab Emirates, Iraq has suffered the most.
At the same time, Kuwait’s export was 35 million barrels in February, which increased to 9 million barrels in March. In Qatar it decreased from 19 million barrels to 6 million barrels in March. Saudi Arabia’s oil export figure in February was 202 million barrels, which fell to 133 million barrels in March. At the same time, the figure of United Arab Emirates decreased from 94 to 69 million barrels.
Crude oil tanker.
This country has won the game
Out of all the six countries, Oman is the only country which left everyone behind. Oman has not suffered a loss but gained. Its oil export was 25 million barrels in February, which increased to 28 million barrels in March. That means there was a direct increase of 4 percent.
The loss of 206 million barrels of oil in the Gulf region since the beginning of the war could have filled approximately 103 Very Large Crude Oil Carriers (VLCCs), which are considered the main tankers of the global energy sector.
Crude Oil.
VLCCs are among the largest and heaviest ships in the world and are designed to transport approximately two million barrels of crude oil across the world’s oceans. Only Ultra Large Crude Carrier (ULCC) ships are bigger than these, whose transportation power is three million barrels.
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