⚡️🇺🇸🇮🇷 – U.S. Energy Secretary Chris Wright said over 20 million barrels of oil exited the Strait of Hormuz in a single day this week, more than before the war in Iran started, and blamed the rise in energy costs on refining capacity—not a lack of supply.

We had a day this last week where over 20 million barrels of oil, more than pre-conflict levers, flowed out of the straits.

The running average today is almost 13 million barrels a day. So the oil and gas are coming out of the Strait of Hormuz.

The pricing problem today is much more refining capacity than it actually is the flow of oil.

@GeoPWatch