Market Intelligence
Middle East Oil Exports Recover Toward Pre-Conflict Levels, Goldman Sachs Says
Outbound crude and product shipments from the Persian Gulf have rebounded to approximately two-thirds of pre-war averages, according to Goldman Sachs.
Middle East exports of crude oil and petroleum products have climbed to between 15 million and 16 million barrels per day, according to Goldman Sachs research reported by Bloomberg. This export rate represents an increase of 5 million to 6 million barrels per day relative to the low point recorded in March.
Persian Gulf outbound volumes have now reached roughly two-thirds of their typical levels prior to the outbreak of the Iran conflict. Despite this recent recovery in loadings, overall regional flows remain an estimated 7 million to 8 million barrels per day below baseline figures.
Goldman Sachs analysts stated that the growing availability of exported barrels may constrain further increases in global oil prices, even if regional hostilities persist.
Source attribution
Gulf Oil Exports Rebound Despite Iran WarGlobal Freight Briefing
The commodity and freight brief, twice weekly
Concise coverage of fuel oil, energy trading and shipping markets for professional readers. No promotional content.