Trump Administration Says 9 Million Barrels a Day Still Exit Hormuz as Iran Claims Shutdown
Updated
Updated · Fortune · Aug 13
Trump Administration Says 9 Million Barrels a Day Still Exit Hormuz as Iran Claims Shutdown
3 articles · Updated · Fortune · Aug 13
Summary
Nearly 9 million barrels a day are still leaving the Strait of Hormuz, Energy Secretary Chris Wright said, disputing Iran’s claim that the waterway is effectively shut after the ceasefire collapse.
Those flows rely on tankers sailing “dark,” ship-to-ship transfers off Oman and U.S. military support; with 5 million to 7 million barrels moving by pipelines, total Gulf exports average about 15 million barrels a day versus 20 million before the war.
Independent estimates are lower but close: Rory Johnston put recent Hormuz volumes near 7 million barrels a day, while noting hidden transits could push the figure higher.
The partial flow has helped crude prices retreat from last month’s spike, even as global markets still face a supply deficit and low reserves.
Washington is using that breathing room to tighten pressure on Tehran, with Treasury Secretary Scott Bessent warning of unprecedented economic isolation alongside a blockade that is choking off Iran’s own oil exports.