US Energy Secretary Says Oil Shipments Through Hormuz Recover to 9 Million Barrels a Day
JH Kim
Summary
- US Energy Secretary Chris Wright said oil shipments through the Strait of Hormuz have recovered to about 9 million barrels a day.
- Regional oil shipments, including pipelines, have risen to about 15 million barrels a day, indicating that pressure on oil supplies from the Iran war is easing.
- US crude prices have remained elevated near $83 a barrel, while the US Strategic Petroleum Reserve (SPR) has fallen below 300 million barrels.
Forecast Trend Report by Period
Chris Wright, the US energy secretary, said oil shipments through the Strait of Hormuz have recovered to about 9 million barrels a day, Walter Bloomberg reported on Aug. 11.
Regional crude flows, including pipelines, have climbed to about 15 million barrels a day, indicating that supply pressure stemming from the Iran war is easing.
US crude prices have remained elevated near $83 a barrel, while the US Strategic Petroleum Reserve, or SPR, has dropped below 300 million barrels.
JH Kim
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