US oil exports surge and China solar exports double amid Hormuz blockade
Updated
Updated · The Guardian · Apr 26
US oil exports surge and China solar exports double amid Hormuz blockade
15 articles · Updated · The Guardian · Apr 26
Nearly 30 supertankers are set to load US crude, with exports reaching a record 5.2 million barrels per day.
Iran’s blockade of the Strait of Hormuz has cut 10 million barrels of Gulf oil exports daily, prompting Europe to double US jet fuel imports and airlines to reduce flights.
China’s solar technology exports soared to 68GW, benefiting from global fossil fuel disruptions, while Latin America and Venezuela are poised to expand oil output as the global energy order shifts.
Can US shale replace Middle East oil before its own export capacity runs out?
With oil prices soaring, why are American drillers hesitant to significantly boost production?
Beyond oil, which critical industries face collapse from the hidden Middle East supply chain crisis?
Is the world trading dependency on Middle East oil for a new dependency on China's green technology?
Has the Hormuz crisis permanently broken global trust in Middle East energy security?
Is this crisis the last great boom for fossil fuels or the final catalyst for a green revolution?
Strait of Hormuz Blockade Cuts 80% of Gulf Oil Flows, Triggering Global Energy Crisis and $25/MMBtu LNG Surge
Overview
In early 2026, a U.S. naval blockade intensified the Strait of Hormuz blockade, leading to a near-total shutdown of vessel transits by April. This caused oil shipments to collapse by over 80%, removing 10 million barrels per day from global supply and reducing Qatar's LNG export capacity by 17% after attacks on its facilities. The combined disruptions triggered soaring LNG prices and widespread energy shortages, forcing Asian governments to implement conservation measures and causing massive refining cuts. In response, the U.S. surged LNG exports and drew down its Strategic Petroleum Reserve, while China’s solar exports hit record highs, accelerating renewable adoption in Africa and Asia. This crisis exposed global energy vulnerabilities and is driving a critical shift toward diversified and sustainable energy systems.