Trump cites oil flow through Strait of Hormuz amid shipping attacks
US President Donald Trump on Tuesday stated that millions of barrels of oil have passed through the Strait of Hormuz over the past couple of days, highlighting the continued flow of energy through the strategic waterway. Trump claimed oil flows through the Strait had reached levels comparable to, and at times exceeding, those seen before the conflict in West Asia. "The Hormuz Strait, tremendous amounts, millions of barrels of oil, has been delivered just over the last couple of days. We're getting it through at levels that were now even and sometimes exceeding prior to the war," he said while speaking to reporters outside the White House.
Trump's remarks come as reports indicate oil exports from the Persian Gulf have recovered significantly in recent days despite heightened attacks on commercial shipping in the strategic waterway. According to maritime intelligence firm Kpler, Gulf oil flows excluding Iran recovered to more than 81 per cent of pre-war levels in September, while crude exports from the wider Middle East exceeded pre-war levels on 14 days during the month.
During the same remarks, Trump also commented on Iran's economic situation and announced that Iran's Oil Minister Mohsen Paknejad had resigned. Trump stated, "Iran is doing very poorly. Their economy is gone. They have inflation of almost 300 per cent. Their oil minister just quit." According to Iranian state media, Hamid Bovard, the CEO of the state-run National Iranian Oil Company, was appointed as caretaker oil minister. No reason was given for Paknejad's resignation.
