Strait of Hormuz oil flows at 7M bbl/day; Chevron CEO doubts

US Energy Secretary Chris Wright said 7 million barrels of oil and fuel are flowing through the Strait of Hormuz each day, supported by U.S. naval escorts. Chevron CEO Mike Wirth expressed doubt about that number.

The Strait of Hormuz handles roughly a fifth of global oil consumption. Wright's figure suggests the U.S. escort mission is keeping tanker traffic steady despite regional tensions. The crude oil profile shows how chokepoint risks factor into supply models.

Wirth's skepticism carries weight because Chevron operates one of the world's largest shipping fleets. He did not offer a competing estimate.

The Energy Department did not immediately explain how the 7 million barrel figure was calculated. Wirth declined to elaborate on his reasoning.