{"id":21920,"date":"2026-05-04T11:41:55","date_gmt":"2026-05-04T06:41:55","guid":{"rendered":"https:\/\/pakalerts.net\/english\/?p=21920"},"modified":"2026-05-04T11:41:55","modified_gmt":"2026-05-04T06:41:55","slug":"sharp-decline-in-oil-prices-expected-us-treasury-secretary-predicts","status":"publish","type":"post","link":"https:\/\/pakalerts.net\/english\/?p=21920","title":{"rendered":"Sharp Decline in Oil Prices Expected, US Treasury Secretary Predicts"},"content":{"rendered":"<p><strong>US Treasury Secretary Scott Bessent has predicted a significant decline in global oil prices, stating that energy costs should decrease notably following the recent conflict conditions, which could impact global markets.<\/strong><\/p>\n<p>In an interview with a US television channel, he said that a major drop in the global oil market could be seen in the near future, as US energy exports have reached record levels, contributing to increased supply.<\/p>\n<p>According to Scott Bessent, the United States is emerging as a major force in the energy sector, although its exports are currently constrained by infrastructure limitations, preventing full utilization of its capacity.<\/p>\n<p>He further stated that more ship traffic is likely to resume through the Strait of Hormuz in the coming days, while Iran\u2019s attempts to impose tolls on vessels have not proven very effective.<\/p>\n<p>The US Treasury Secretary also clarified that no major policy shift is expected in the anticipated meeting between US President Donald Trump and Chinese President Xi Jinping.<\/p>\n<p>Experts believe that if oil prices decline, it will have significant effects on the global economy, energy markets, and oil-importing countries.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>US Treasury Secretary Scott Bessent has predicted a significant decline in global oil prices, stating that energy costs should decrease notably following the recent conflict conditions, which could impact global markets. In an interview with a US television channel, he said that a major drop in the global oil market could be seen in the [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":21921,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"googlesitekit_rrm_CAowgLK2DA:productID":"","_sitemap_exclude":false,"_sitemap_priority":"","_sitemap_frequency":"","jnews-multi-image_gallery":[],"jnews_single_post":{"subtitle":""},"jnews_primary_category":[],"jnews_social_meta":[],"footnotes":""},"categories":[47,46,37],"tags":[9199,5132,6467,11904,11362,12093],"class_list":["post-21920","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-important-news","category-latest","category-world","tag-energy-market","tag-global-economy","tag-oil-prices","tag-scott-bessent","tag-strait-of-hormuz","tag-us-energy-exports"],"_links":{"self":[{"href":"https:\/\/pakalerts.net\/english\/index.php?rest_route=\/wp\/v2\/posts\/21920","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/pakalerts.net\/english\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/pakalerts.net\/english\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/pakalerts.net\/english\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/pakalerts.net\/english\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=21920"}],"version-history":[{"count":1,"href":"https:\/\/pakalerts.net\/english\/index.php?rest_route=\/wp\/v2\/posts\/21920\/revisions"}],"predecessor-version":[{"id":21922,"href":"https:\/\/pakalerts.net\/english\/index.php?rest_route=\/wp\/v2\/posts\/21920\/revisions\/21922"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/pakalerts.net\/english\/index.php?rest_route=\/wp\/v2\/media\/21921"}],"wp:attachment":[{"href":"https:\/\/pakalerts.net\/english\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=21920"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/pakalerts.net\/english\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=21920"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/pakalerts.net\/english\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=21920"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}