Goldman Sachs estimates that the recent total export volume of the Gulf region is about 15 million to 16 million barrels per day. Although it is still 7 million to 8 million b/d below pre-war levels, it is 5 million to 6 million b/d higher than the March low. Goldman Sachs said that although these estimates focus on total flow in the Gulf region, the upwardly revised data suggests that the amount of oil transported through the Strait of Hormuz may be close to the 8 million to 10 million barrels per day estimated by US officials. “The increase in 'clandestine' transit of professional carriers and ship-to-ship transfers shows that producers and carriers are adapting to the Middle East conflict,” the report said. Goldman Sachs continues to believe that under the scenario of continuous supply disruptions, European gas prices and long-term petroleum product contracts will have more room to rise than crude oil.

Goldman Sachs estimates that the recent total export volume of the Gulf region is about 15 million to 16 million barrels per day. Although it is still 7 million to 8 million b/d below pre-war levels, it is 5 million to 6 million b/d higher than the March low. Goldman Sachs said that although these estimates focus on total flow in the Gulf region, the upwardly revised data suggests that the amount of oil transported through the Strait of Hormuz may be close to the 8 million to 10 million barrels per day estimated by US officials. “The increase in 'clandestine' transit of professional carriers and ship-to-ship transfers shows that producers and carriers are adapting to the Middle East conflict,” the report said. Goldman Sachs continues to believe that under the scenario of continuous supply disruptions, European gas prices and long-term petroleum product contracts will have more room to rise than crude oil.