Goldman Sachs indicates that 14.5 million barrels of oil per day are missing from the Persian Gulf, 57% lower than before the war.

Goldman Sachs indicates that oil production in the Persian Gulf has decreased by 14.5 million barrels per day, 57% below pre-war levels. Recovery could take several months, while oil prices continue to surge amidst the prolonged war.

April 24, 2569 at 13.26:XNUMX, Bloomberg reported that Goldman Sachs Group estimates that oil production from the Persian Gulf countries will decline sharply. Production was 14.5 million barrels per day below pre-war levels in Iran this month.

Analysts say oil production in the region has fallen by about 57% compared to pre-war levels, and even if the situation eases, a recovery in production could take several months, depending on key conditions such as the safe reopening of the Strait of Hormuz and the absence of further attacks.

The global oil market is facing increasing pressure as the conflict between the United States, Israel, and Iran enters its third month, bringing oil shipments through the Strait of Hormuz, a vital global energy route, to a near standstill.

Both Iran and the United States have imposed naval blockades, significantly reducing shipping traffic in the area. Meanwhile, Brent crude oil prices continued their upward trend for the fifth consecutive day and are on track to close the week up by as much as 17%.

Analysts warn that the longer the Strait of Hormuz remains closed, the longer the production limits will be imposed and the slower the recovery of oil supply will be.

refer : bloomberg.com

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