In statements made on October 5, the advisor to Mojtaba Khamenei described the Strait of Hormuz as a weapon more dangerous than nuclear weapons. In an interview with Fox News, he announced that over 20 million barrels of oil passed through this strait last week, a figure that exceeds the amount before the war began.
Impact of Sanctions and Management of Oil Transit
This official also referred to the actions of the U.S. armed forces and stated that these actions have helped revive the flow of oil, gas, and petroleum products from the Strait of Hormuz. He also reminded that before the war began on February 28, 2025, an average of about 20 million barrels of oil passed through this strait daily, equivalent to one-fifth of global oil supply.
Read more: General Safavi: The Strait of Hormuz can be a lever of victory for Iran in the war
The Islamic Republic also proposed on September 25 to reopen the Strait of Hormuz and announced that in exchange for lifting the maritime blockade, issuing a sanctions exemption for oil sales, and establishing a ceasefire, it is ready to negotiate with the United States. This comes as Donald Trump, the President of the United States, responded negatively to this proposal and emphasized the economic pressure resulting from the maritime blockade.
Challenges in Oil Refining and Energy Production Capacity
The U.S. Secretary of Energy further referred to the existing challenges in oil refining and production capacities. He emphasized that the current pressure on energy prices is more related to a lack of refining capacity in the world than to restrictions on oil transit. Wright also pointed out the severe damage to Russian refineries and the reduction of this country's refining capacity compared to the past.
In his statements, Wright criticized the policies of the Joe Biden administration and the closure of more than 12 refineries during his presidency, mentioning efforts to construct the first new refinery in the United States in several decades. He also addressed the necessity of increasing electricity production capacity in the U.S. and efforts to expand oil and gas activities in Alaska.
In recent weeks, the advance of the Houthis in Yemen and concerns about the security of energy transit routes have heightened worries about the outlook for the global oil market.
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