Mideast oil producers step up plans to bypass the Strait of Hormuz
Middle EastBusinessHigh confidence — 90/100
Updated on: July 23, 2026 / 11:41 AM EDT / CBS/AP Add CBS News on Google Before the war in Iran, roughly 15 million barrels of Persian Gulf oil were shipped each day through the Strait of Hormuz.
Within a few years, much of that oil could bypass the strait.
At least seven major pipeline projects are unde
Confirmed
Updated on: July 23, 2026 / 11:41 AM EDT / CBS/AP Add CBS News on Google Before the war in Iran, roughly 15 million barrels of Persian Gulf oil were shipped each day through the Strait of Hormuz.
Within a few years, much of that oil could bypass the strait.