Axios
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The coming verdict on Trump's Strait of Hormuz claims
The White House claims success in increasing oil exports through the Strait of Hormuz, but private sector analysts have differing views. President Trump stated that 18 million barrels per day are now moving through the waterway, an assertion supported by Energy Secretary Chris Wright, who reported 17 million barrels on a specific day. However, these figures contrast with lower multi-day averages reported by both Wright and private tracking firms. Determining the precise amount of oil leaving the strait will take several weeks as all data, including port and customs information from importing countries, becomes available. Tanker tracking services have reported less oil movement than the administration's claims, partly due to ships turning off tracking transponders. Despite discrepancies, there's some agreement between private trackers and the Energy Department on the multi-day average, which is significantly lower than the peak figures cited. Analysts suggest that while the increase might not be as substantial as claimed by the administration, it is enough to give them confidence in their strategy. Ultimately, the exact picture of oil flow through the Strait of Hormuz will become clearer in the coming weeks. This data is crucial as it impacts global oil prices and consumer product costs.