Gulf oil exports recover to two-thirds of pre-war level, Goldman says

AI digestMimile.ai EditorialAugust 29, 2026 at 05:00 AM

This digest was compiled by AI from multiple sources — links to the originals are below.

Gulf oil exports recover to two-thirds of pre-war level, Goldman says

Combined crude and refined product exports from Persian Gulf states reached 15–16 million barrels per day, about two-thirds of pre-war volumes, according to Goldman Sachs analysts. The recovery leaves daily exports 7–8 million barrels below pre-war levels, the bank said in an Aug. 27 note. Brent traded near $89 a barrel by week's end, down from more than $120 in April.

Key Facts

Combined crude and refined product exports from Persian Gulf states reached 15–16 million barrels per day, about two-thirds of pre-war volumes, according to Goldman Sachs.
The region exports 7–8 million barrels per day less than before the war, implying pre-war supplies of roughly 22–24 million barrels per day.
Goldman Sachs estimates 8–10 million barrels per day now pass directly through the Strait of Hormuz, with the rest moving via alternative routes including the Red Sea.
Brent crude traded near $89 a barrel by the end of the week, down from more than $120 in April.

Export Recovery

Goldman Sachs analysts estimated the recovery in an Aug. 27 note using two independent methods, Reuters reported. The bank said 8–10 million barrels per day may now pass directly through the Strait of Hormuz. The remaining volume includes shipments via alternative routes, including the Red Sea. Producers increased exports using specialized tankers with transmitters switched off and ship-to-ship transfers outside the danger zone. Commercial tracking services may therefore miss part of the shipments, the bank noted.

Price Impact

Goldman Sachs said the export recovery could limit further gains in global oil prices even if Middle East disruptions persist. Brent crude traded near $89 a barrel by the end of the week, down from more than $120 in April. For Kyrgyzstan, which depends entirely on imported fuel, easing global oil market tensions could indirectly reduce pressure on purchase prices.

1 source

Gulf oil exports recover to two-thirds of pre-war level, Goldman says

akchabar.kg

Akchabar

Finance

Axios reports US runs nightly 10-million-barrel tanker corridor through Strait of Hormuz

Axios reports that two US officials said American forces have run a shipping corridor through the Strait of Hormuz for several weeks, moving about 10 million barrels of oil per day. The officials said the nightly convoys of 15–20 tankers use a southern route along Oman's coast, with US forces providing protection against Iranian drones and cruise missiles. President Donald Trump told Axios the US is not negotiating with Iran, while calling the amount of oil moving through the strait 'huge'.

Environment

ITC: Exports via Strait of Hormuz fall 54% in April

Exports of 12 key goods through the Strait of Hormuz fell 54% in April 2026 from a year earlier, according to the International Trade Centre. The decline, driven by shipping disruptions, hit energy and industrial supply chains, with LNG exports down 95% and urea 83%. The slump persists even as importers seek alternative suppliers but fail to fully compensate for lost volumes.

Finance

US becomes world's largest oil exporter for third month

The United States exported 10.5 million barrels per day of crude oil and petroleum products in May 2026, maintaining its position as the world's largest oil exporter for the third consecutive month. Russia exported about 7 million bpd and Saudi Arabia 5.9 million bpd during the same period. The shift reflects growing demand for reliable suppliers amid Middle East tensions and risks to shipments through the Strait of Hormuz.

Finance

China’s July oil imports rise 22% from June’s record low

China's crude oil imports jumped 22% in July from June's near‑decade low, customs data showed on Friday, as buyers took advantage of cheaper shipments following the brief reopening of the Strait of Hormuz. Imports, however, were 24.3% lower than a year earlier at 35.73 million metric tons, and refinery utilisation remained below 60% of capacity. The increase failed to reverse a drain on the country's commercial oil stockpiles, which fell by about 1 million barrels per day, according to consultancies Vortexa and Energy Aspects.

Gulf oil exports recover to two-thirds of pre-war level, Goldman says

Key Facts

Export Recovery

Price Impact

Read more

Read more