US Energy Secretary Says Oil Flows Through Strait of Hormuz to Increase in Coming Weeks
Chris Wright said the vital shipping corridor, which carries an average of up to 10 million barrels of oil and oil products daily, is expected to see rising volumes in the near term.
US Energy Secretary Chris Wright said oil shipments passing through the Strait of Hormuz are expected to increase in the coming weeks, according to TASS, the Russian state news agency.
Wright said the strait, a narrow waterway between Iran and Oman connecting the Persian Gulf to the Gulf of Oman, handles an average of up to 10 million barrels of oil and oil products by water on a daily basis, TASS reported.
The strait is widely regarded as one of the world's most important chokepoints for global energy trade, with a significant share of seaborne crude oil and petroleum products moving through it en route to markets in Asia, Europe and elsewhere.
TASS did not provide further details from Wright's remarks regarding the specific factors expected to drive the anticipated rise in shipments or a precise timeframe beyond "coming weeks."
The report did not specify the occasion or setting in which Wright made the comments.
Sources
EGazette summarizes reporting from multiple sources; follow the links for the originals.
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