Key facts
- Rosneft CEO Igor Sechin claims US energy companies benefit from the Strait of Hormuz closure.
- Sechin stated that Washington is attempting to alter global energy market contours for US interests.
- He asserted that the closure of the Strait of Hormuz has backfired on the world, not just Iran.
- Sechin also commented that OPEC+ has lost potential due to withdrawals from UAE, Qatar, and other countries.
- He noted that the alliance's production has fallen from 58 to 37 million barrels per day over the past ten years.
Rosneft Chief Executive Igor Sechin stated that U.S. energy companies are the main beneficiaries of the closure of the Strait of Hormuz, suggesting that Washington is attempting to reshape global energy markets to serve U.S. interests. Sechin made these remarks at the St. Petersburg International Economic Forum. He argued that the measures taken to block the strait, intended for Iran, have negatively impacted the entire world due to underestimated strategic risks. Sechin also commented on the diminished influence of the OPEC+ group, citing the withdrawal of the United Arab Emirates, Qatar, and other countries. He noted that the alliance's production has decreased from 58 million barrels per day to 37 million barrels per day over the last decade. Sechin further mentioned that Russia's oil production has fallen by 1.5 million barrels per day, requiring significant investment to offset.