No nation can replace 16 mln bpd of oil lost in Hormuz closure — Rosneft CEO

ST. PETERSBURG, June 5. /TASS/. Neither the US nor other countries can make up for the 16 million bpd of oil lost as a result of the Middle East conflict, Rosneft CEO Igor Sechin believes.

"No one can. 16 million barrels per day," he said, answering a question about whether the US could offset the loss of oil volumes due to the closure of the Strait of Hormuz. Sechin redirected the question about the possibility of oil prices rising to $150 per barrel if the Strait of Hormuz remains closed for several more months to US President Donald Trump.

SPIEF is taking place on June 3-6. This year's main theme is "Pragmatic Dialogue: The Path to a Stable Future." The forum's program focuses on shaping a new model of global development amid the transformation of the world economy. The Roscongress Foundation is the organizer of the forum, with TASS serving as its general information partner.