Episode Details

Official reports claim Middle Eastern oil exports through the Strait of Hormuz hit nearly 15 million barrels a day—up from pre-conflict levels—suggesting a boost for Asia’s energy needs. But vessel tracking data from Kpler shows a stark contrast, with flows often dropping below 2 million barrels daily. The gap of 3 to 5 million barrels daily has sparked debate: are official numbers inflated due to double-counting ship-to-ship transfers, or is there hidden movement not captured by tracking? Import data from buyer nations may soon clarify whether the 15 million figure holds water—or if the real picture remains murky and incomplete.

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