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
This report was written by the Global Freight editorial desk based on material published by OilPrice.com. It is an original summary and analysis, not a reproduction of the source text. Figures and claims are limited to those present in the source material.
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.
Related coverage
Related blogs
Further reading across commodity trading, energy and oil markets, fuel oil and shipping logistics.
- Market Intelligence
Middle East Crude Shipments Through Strait of Hormuz Increase
Crude oil flows through the Strait of Hormuz are climbing as Middle Eastern producers expand their export volumes despite ongoing regional tensions.
- Market Intelligence
Oil prices ease on reports of Venezuelan supply and Strait of Hormuz talks
Crude markets trended slightly lower on Friday as traders evaluated potential Venezuelan supply changes and developments in the Middle East.
- Shipping & Ports
Wind-Assisted Propulsion Complements Dual-Fuel Fleet Strategy
Combining wind assistance with dual-fuel capability helps shipowners manage future fuel risks by prioritising lower consumption, according to BAR Technologies.
- Shipping & Ports
Four New VINGA Product Tankers Ordered by Nordic and Canadian Owners
A consortium of shipowners from Sweden, Norway, and Canada has contracted four VINGA product tankers for delivery across 2028 and 2029.
- Energy Trading
Alkagesta adds EU ETS allowances to its carbon trading offering
The Malta-based commodity trading group has extended its carbon markets desk to cover EU Emissions Trading System allowances alongside CORSIA-eligible SAF and biofuels.
- Commodity Trading
Alkagesta joins the Platts EMEA naphtha physical Market on Close process
Approval to participate in the S&P Global Commodity Insights benchmark process follows an editorial review of the trading house's European naphtha activity.