Global oil and gas transportation industry - statistics & facts
Oil and natural gas are some of the most heavily traded goods in the world. However, as consumer markets are not always overlapping with producing regions, transportation, especially across continents and seas, plays a huge role in shaping the global oil and gas market. The two most common modes of moving crude oil, oil products, and natural gas are via tanker ships and pipelines. As of 2024, the global capacity of oil tankers stands at over 650 million tons deadweight. As of early 2026, the war between the U.S., Israel, and Iran is heavily impacting the flows of goods and commodities in the Persian Gulf. The importance of the the Strait of Hormuz for gloabl oil and gas transport has had wide-ranging impacts on commodity markets around the world, including a more than 60 percent increase of the price or Brent crude oil in the first months of the year.
Asia to continue building up pipeline infrastructure
Despite Saudi Arabia not ranking as one of the larger operators of pipeline infrastructure, its East-West oil pipeline is playing an increasingly important role in the context of disruptions to commercial shipping in the Strait of Hormuz. The pipeline allows the country to bypass the Strait and divert at least some of its oil exports to the port of Yanbu on the Red Sea.
The world’s largest oil and natural gas pipeline networks are located in North America. As major producing and refining regions, the United States and Canada have built a vast network of pipelines crisscrossing the continent. The North American oil pipeline network is roughly twice the size of Russia’s and three times the size of China's network.Â
