According to the U.S. Energy Information Administration, in the year 2011, an average of 14 tankers per day passed out of the Persian Gulf through the Strait carrying 17 million barrels (2,700,000 m3) of crude oil. This was said to represent 35% of the world's seaborne oil shipments and 20% of oil traded worldwide. The report stated that more than 85% of these crude oil exports went to Asian markets, with Japan, India, South Korea and China the largest destinations.[1]