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Commodities

Middle East Oil Exports Baffle Experts Amid Wright's 'Rebound' Claim

Guavy AI Editorial Team
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Oil
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US Energy Secretary Chris Wright claims that oil exports from the Middle East have rebounded to 15 million barrels per day (bpd), even exceeding pre-war averages of 20 million bpd on Sunday.

Vessel-tracking services and commodity analysts are puzzled by this assertion, as ship-tracking data shows oil flows out of the Strait of Hormuz at best half that volume. The disparity between Wright's claim and tanker-monitoring data is estimated to be around 3-5 million bpd.

Matt Smith, director of commodity research at Kpler, stated that 'it is not possible to reconcile the disparity between what we see and what he is quoting.'

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