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The Trump administration claims oil is flowing normally again. There’s just one problem
CNN • • business
Key Points:
- Energy Secretary Chris Wright claimed that Middle East oil exports surpassed pre-war levels recently, attributing this to US-coordinated efforts and pipeline rerouting, but this assertion lacks support from observable shipping data.
- Shipping data from Kpler shows only 84 vessels passed through the Strait of Hormuz last week, far below pre-war daily averages, with oil flow estimates closer to 4 million barrels per day, contradicting Wright’s claim of 9 million barrels.
- Wright’s statement that 5 to 7 million barrels per day bypass the Strait via pipelines is accurate, mainly due to Saudi Arabia’s East-West pipeline rerouting oil to the Red Sea, though physical infrastructure limits challenge his broader export volume claims.
- Experts highlight the difficulty in verifying Wright’s figures and suggest the administration is attempting to influence oil prices downward, despite ongoing threats and attacks on vessels transiting the Strait of Hormuz.
- Some oil exports involve shadow tankers and vessels using false flags to evade sanctions, complicating accurate tracking of Middle East oil flows and raising questions about the reliability of official export data.
