Vortexa released a report indicating a 9 million bpd loss in global crude supply due to the Strait of Hormuz blockade, underscoring a widening gap that is only partially filled by Atlantic exports.
The blockade has removed roughly 9 million barrels per day of crude from the global market, and replacement barrels are not keeping pace. U.S. Gulf Coast exports have hit record highs, largely supported by releases from the Strategic Petroleum Reserve, while alternative routes via Yanbu, Fujairah and Ceyhan add about 3.6 million bpd.
Global crude imports are down by roughly 10 million bpd, with Asian buyers absorbing the largest share of the shortfall. Atlantic Basin flows to Asia run at about 7 million bpd, covering roughly 30% of the lost Middle East Gulf supply. Onshore crude inventories outside China have fallen by 49 million barrels over the past four weeks, a rapid drawdown that reflects how little slack remains in the system.
Crude at sea has already dropped back to seasonal levels, removing what had been a key buffer in the system.
According to the report, "The missing barrels are coming out of storage, and the pace of those draws is picking up." It also notes that "Atlantic Basin flows to Asia are running near 7 million bpd," and that "Onshore crude inventories outside China have fallen by 49 million barrels in four weeks." These figures illustrate the pressure on storage and the limited capacity of alternative routes to compensate for the Hormuz loss.
