Energy Secretary Chris Wright announced that the U.S. military is currently escorting roughly 7 million barrels of crude oil and fuel products per day through the Strait of Hormuz. This volume represents about half of the oil supply that flowed through the strait before the conflict with Iran began in February, when approximately 20 million barrels daily traversed the waterway. Wright made these remarks at the Bloomberg Energy Security Executive Briefing in Houston, noting that the escorted volumes are increasing and that the U.S. intends to fully reopen the strait with or without Iran's cooperation.
Before the war, 20 million barrels of oil per day moved through the Arabian Gulf via the Strait of Hormuz. Following the start of hostilities between the U.S. and Israel against Iran, about 5 million barrels of this flow were redirected to alternative transportation options, such as pipelines. Additionally, global oil production outside the conflict region increased by about 1 million barrels daily. This left a gap of approximately 14 million barrels per day, and current escorted flows are now filling nearly half of this gap.
Wright emphasized that the U.S. military's efforts are successfully resolving the problem of disrupted oil flows, despite destroyed Iranian military capabilities. He stated that the U.S. will ultimately restore full oil flows. This increased traffic through the Strait of Hormuz coincides with ongoing negotiations between former President Trump and Iran for a peace deal, suggesting that the U.S. is proactively mitigating economic impacts while diplomacy continues. Wright's statements indicate a strong commitment to ensuring sustained energy supplies, regardless of the diplomatic outcome with Iran.
