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Middle Eastern nations are enhancing their oil shipping infrastructure to mitigate dependence on the Strait of Hormuz. This move comes in response to Iran's blockade of the waterway, which previously facilitated about 20 percent of global oil consumption.
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Middle Eastern nations are enhancing their oil shipping infrastructure to mitigate dependence on the Strait of Hormuz. This move comes in response to Iran's blockade of the waterway, which previously facilitated about 20 percent of global oil consumption.
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Strait of Hormuz oil supply crunch has countries looking for workarounds
Middle Eastern Nations Expand Oil Shipping Infrastructure Amid Strait of Hormuz Concerns