Oil finds a way: New routes emerge to bypass the Hormuz chokepoint

Oil markets are accelerating plans to reduce dependence on the Strait of Hormuz, with several pipeline and export projects under development (e.g., UAE West-East, Iraq Basra–Haditha) and a Dubai port initiative. Goldman Sachs estimates capacity could shield more than 45% of pre-war Persian Gulf exports by next year and over 60% by 2028, but 7–9 million barrels per day would still be exposed. While talk of US blockades adds urgency, the industry is already adapting, and a renewed Hormuz disruption would likely reshape but not halt global oil trade, with Qatar LNG and other producers still tied to the strait.)