CNN Challenges US Energy Secretary’s Claims of Normalized Oil Flows Through Hormuz

CNN Challenges US Energy Secretary’s Claims of Normalized Oil Flows Through HormuzShips anchored in the Strait of Hormuz on August 10, off the coast of Bandar Abbas, Iran (Photo by Ali Saeedi/Getty Images). JPMorgan estimates that roughly 4 million barrels of oil per day are currently getting through the strait—far below Wright’s claim of 9 million barrels per day. CNN’s Goldman noted that Wright’s claim that 5 million to 7 million barrels per day are bypassing the strait through pipelines appears more credible. Saudi Arabia’s East-West pipeline alone has been rerouting more than 5 million barrels per day toward the Red Sea, while regional producers have largely maxed out available pipeline capacity. Of the 84 vessels that crossed Hormuz last week, Kpler identified 17 as shadow-fleet crossings, while 10 were carrying sanctioned cargo.