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U.S. Treasury Secretary Yellen: Oil market supply will be very ample
ME News report, May 5 (UTC+8), U.S. Treasury Secretary Bessent said: “What we want to make clear is that the Iranians do not control the Strait of Hormuz. We absolutely control the Strait of Hormuz.” Bessent said that, at present, 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 passing through the Strait of Hormuz carries approximately 2 million barrels of crude oil. If four or five ships leave each day, it can make up for the oil shortfall. He also added that there are “150 to 200 such ships” that “can depart.” “So I believe market supply will be very sufficient,” Bessent said. Meanwhile, Bessent claimed that Iran’s economy is “plummeting in a free-fall decline.” “Everyone says they can endure the pain. But their soldiers can’t tolerate not getting paid.” (Source: PANews)