The global oil supply chain faces critical bottlenecks at the Strait of Malacca and the Strait of Hormuz, where millions of barrels of oil transit daily. These two points are the most strategic locations for disrupting oil supplies, with 23.2 million and 20.9 million barrels passing through each day, respectively. In comparison, other points along the supply chain handle less than 10 million barrels daily.
Considering global oil consumption at 104.4 million barrels per day and global maritime trade at 79.8 million barrels, blocking the vital chokepoint of the Strait of Hormuz could have a significant impact. However, the potential consequences of blocking the Malacca Strait, which would have an even more substantial effect, are limited by the geographic distance from Iran.