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U.S. Treasury Secretary Yellen: Oil market supply will be very ample
ME News Report, May 5th (UTC+8), U.S. Treasury Secretary Janet Yellen stated: “What we want to make clear is that Iran does not control the Strait of Hormuz. We absolutely control the Strait of Hormuz.” Yellen said that currently, the global oil gap caused by conflicts is about 8 to 10 million barrels per day. She also mentioned that each oil tanker passing through the Strait of Hormuz carries about 2 million barrels of oil. If four or five ships depart daily, it can make up for the oil shortfall. She further added that there are “150 to 200” such ships that “can depart.” “So I believe market supply will be very sufficient,” Yellen said. Meanwhile, Yellen claimed that the Iranian economy is “in a free-fall decline.” “Everyone says they can endure the pain. But their soldiers can’t tolerate not getting paid.” (Source: PANews)