business π’ Gulf Oil Exports Bounce Back Despite Iran Conflict
Oil volumes exiting the Persian Gulf have recovered to roughly two-thirds of pre-Iran war levels, according to Goldman Sachs. The Middle East region is currently exporting between 15 and 16 million barrels per day of crude and products. These numbers represent an increase of about 5 to 6 million bpd above the March low point. This recovery could potentially cap oil prices even if the Middle East conflict continues its current trajectory. Creative shipping solutions are helping keep oil flowing through chokepoints like the Strait of Hormuz. π’