As of early 2026, roughly 20 million barrels of oil and petroleum products passed through the Strait of Hormuz daily, accounting for 20% to 25% of the world’s total seaborne oil trade. Trump has told Albo to Stuff off, but is NZ buying from the US? Does MBIE consider that “commercially sensitive”? It seems unlikely that NZ would buy oil from Russia, given how choc full of Leftists that the Ministry of Foreign Affairs and Trade is.
from the Epoch Times
The global energy climate may shift once again after scheduled peace talks between the United States and Iran collapsed.
America’s energy exports have hit record highs as the world navigates the uncertainty surrounding oil and gas shipments through the Strait of Hormuz.
U.S. exports of crude and petroleum products surged to a record 12.9 million barrels a day last week, according to data from the U.S. Energy Information Administration.
The Energy Information Administration predicted, in a separate analysis, that U.S. liquefied natural gas (LNG) net exports would grow 18 percent this year and another 10 percent in 2027.