Saudi Arabia's East-West oil pipeline will be opened in days: U.S. Energy Secretary Chris Wright

Summary

U.S. Energy Secretary Chris Wright speaks with CNBC's Morgan Brennan at the G20 energy meeting in Houston. He says the Saudi East-West pipeline shutdown is a brief, temporary interruption and will be back in days, with alternative routes keeping energy flowing. He also warns that refining capacity, not crude supply, is the bigger challenge driving record diesel prices, and criticizes California energy policy.

• Chris Wright discusses the oil market impact of the Saudi East-West pipeline closure.
• He expects the pipeline to restart in days and calls the disruption temporary.
• Alternative routes via the Strait of Hormuz and Suez Canal/Egypt pipeline keep energy moving.
• Diesel prices are at record highs due to refining capacity offline in the Middle East, Russia, and California.
• Wright says the world needs growing, not shrinking, refining capacity.
• He criticizes Gavin Newsom's energy policies and cites California refinery closures and high prices.
• He says the Trump administration is expanding U.S. energy production and security.
• The interview also references expected deals with Japan and Venezuela at the G20 summit.