The World's Greatest Oil Chokepoints, And Why Yemen Matters
About half the world's oil production is moved by tankers on fixed maritime routes, according to Reuters.The blockage of a chokepoint, even temporarily, can lead to substantial increases in total energy costs and thus, these checkpoints are crucial to global energy security. While Hormuz remains the largest chokepoint (and along with Bab el-Mandeb explains why Yemen matters so much), Malacca (as we noted previously) is quickly becoming another area of potential problems.
And while Yemen is key for The Strait of Hormuz...
With Bab el-Mandeb even more specifically problematic if Yemen tensions get too extreme...
Source: JPMorgan
The Claims...
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