Goldman Says Persian Gulf Oil Supply 57% Below Pre-War Level

Oil output from Persian Gulf nations has been running 14.5 million barrels a day below pre-war levels this month, according to Goldman Sachs Group Inc., which estimated any resumption would take months.

The region-wide total is 57% lower than before the outbreak of the Iran war, analysts including Daan Struyven said in an April 23 note. A possible restoration would likely take “a few months,” a scenario based on a full-and-safe reopening of the Strait of Hormuz and no renewed strikes, they said.