The Suez Canal: A vital oil transit route with an ancient history
LONDON (Reuters) – The Suez Canal, blocked by a giant container ship that ran aground on Tuesday, is the quickest sea route between Asia and Europe and about 15% of global shipping traffic moves through it.
The 193-km (120-mile) waterway, run by the state-owned Suez Canal Authority, is a vital source of foreign currency for Egypt.
HOW MUCH OIL GOES THROUGH THE CANAL?
Of the 39.2 million barrels per day (bpd) of crude oil imported by seaborne methods in 2020, 1.74 million bpd went through the Suez Canal, according to data intelligence firm Kpler.
WHICH DIRECTION DO CRUDE OIL BARRELS FLOW?
