No they do not, world oil supply has plummeted. Reserves have been drained. Demand has been destroyed.

US oil production is up 3% from this time last year, and they are the biggest petroleum producer on earth. Not even enough to make up a fifth of the loss of just the pipeline that Ansarallah/Iraqi militants just took offline for months - let alone the strait closures.

Iran and Ansarallah are enacting an ecological miracle