US treasury secretary says oil market well supplied

Published March 4, 2026 Updated March 4, 2026 05:47pm

US Treasury Secretary Scott Bessent has said that crude oil markets are well supplied, and that the US plans to make a series of additional announcements on the issue, Reuters reports.

“The crude markets are very well supplied. There are hundreds of millions of barrels on the water away from the Gulf. But more importantly, we have a series of announcements that we’re going to be making,” Bessent said in an interview with CNBC.

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