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Scott Bessent: “The Saudis and UAE have diverted the production into the Red…”

Featuring: Scott Bessent, Republican | Secretary of the Treasury | National

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Treasury Secretary Bessent: U.S. is allowing Iranian tankers through Strait of Hormuz

Published | Video Starts at 04:55

No, no, but that's bad framing. Good framing is that there was about 20 million a day coming out of the Gulf. That 1.5 of that is the Iranian oil. So the 18.5 The Saudis and UAE have diverted the production into the Red Sea. So that's about another five. There's a strategic petroleum release. So we are in deficit somewhere between 10 and 14. Okay. (04:55–05:04)

CLAIM

Asserts that Saudi Arabia and UAE have diverted oil production into the Red Sea.

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