Donald Trump Says Oil Is at 'Pre-War Levels': What the Figures Show
Summary
President Donald Trump shared a chart showing that oil shipments through the Strait of Hormuz have returned to levels seen before the recent conflict began. Experts confirm that oil flow has mostly recovered, but oil prices remain high because of ongoing war-related effects and limited refining capacity.Key Facts
- The chart President Trump shared shows the amount of oil passing through the Strait of Hormuz, a key shipping route.
- Oil shipments dropped sharply in late February when the conflict began but have largely rebounded by September.
- Before the conflict, about 20 million barrels of oil passed daily through the Strait, representing around 25% of global supply.
- About 16.5 million barrels per day are now being exported from the region, similar to pre-war levels when excluding Iran.
- Around 40% of oil exports from the Gulf now use bypass routes like pipelines and land-based paths, increased from 17% before the conflict.
- The Strait remains open to oil shipments except those going to Iran, which faces a U.S.-led blockade.
- Oil prices, including gasoline and diesel, remain high in the U.S., partly due to war effects and limits in oil refining.
- Experts say oil flow recovery is good news, but the main issue now is refining capacity, which affects fuel prices.
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