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Oil production in Persian Gulf runs 14.5 million barrels below pre-war, Goldman notes
Goldman, industry influencer, reports that oil output from Persian Gulf nations has been running 14.5 million barrels a day below pre-war levels this month. The total regional production is now 57% lower compared to before the outbreak of the Iran war.
Goldman further indicates that restoring output to previous levels could take a few months, based on its scenario analysis.
Earlier this month, Dated Brent climbed to a record $144.42 for physical barrels, according to data shared by Annmarie Hordern. Hordern previously reported that oil prices could approach $200 a barrel if the Strait of Hormuz remains closed due to the ongoing Iran conflict through June. Both developments have amplified concerns about supply constraints in the region.
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