U.S. Treasury Secretary Yellen: Oil market supply will be very ample

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ME News message, May 5 (UTC+8). U.S. Treasury Secretary Bessent said: “What we want to make clear is that the Iranian people do not control the Strait of Hormuz. We absolutely control the Strait of Hormuz.” Bessent said that currently, the global oil shortfall caused by the conflict is about 8 million to 10 million barrels per day. He also said that each crude oil tanker transiting through the Strait of Hormuz carries about 2 million barrels of crude oil. If four or five ships leave every day, it would be able to make up for the oil shortfall. He also added that 150 to 200 such ships “can depart.” “So I believe market supply will be very sufficient,” Bessent said. Meanwhile, Bessent claimed that Iran’s economy is “falling in a free-fall style decline.” “Everyone says they can endure the pain. But their soldiers can’t tolerate not getting paid.” (Source: PANews)

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