P Persian Gulf Oil Exports Rebound to Two-Thirds of Pre-War Levels

Goldman Sachs Group has reported that oil exports from the Persian Gulf region have recovered to about two-thirds of pre-war levels, limiting the impact on global crude oil prices.

This recovery is attributed to increased volumes shipped through the Strait of Hormuz, with total exports of crude oil and petroleum products rebounding to 15 million to 16 million barrels per day.

While this level is still lower than pre-war levels, which saw around 23 million barrels per day, it is significantly higher than the trough of 5 million to 6 million barrels per day in March.