JPMorgan and Goldman see Middle East oil flows near pre-war levels
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Watch JPMorgan, Goldman See Mideast Oil Flows Near Pre-War Levels
Crude oil flows from the Middle East are returning toward pre-war levels despite continued risks to shipping, according to JPMorgan Chase & Co. and Goldman Sachs Group Inc. Shipments of crude oil have rebounded to 98% of pre-war levels, while flows of products such as diesel and gasoline were at 58%, according to JPMorgan. Meanwhile, Goldman Sachs said oil exports from the Persian Gulf had recovered to 23.3 million barrels a day over the last week, in line with the 2025 average. Bloomberg's Stuart Livingstone-Wallace breaks down the situation.
Mideast crude oil flows hit 98% of pre-war level, JPMorgan says
Shipments of crude oil have rebounded to 17.5 million barrels a day, or 98% of pre-war levels, while flows of products such as diesel and gasoline were at 3 million barrels a day, or 58%, according to JPMorgan.
JPMorgan Chase and Goldman Sachs have released an analysis stating that Middle Eastern crude oil shipments are approaching pre-war levels.
As the impact of the war in the Middle East on oil shipments diminishes, noteworthy data has emerged from two major banks. According to JPMorgan, crude oil flow has reached 98% of pre-war levels, while Goldman Sachs reported that exports from the Persian Gulf doubled in September. Saudi Arabia is at the center of this recovery, while Iran is not exporting crude oil by sea.
Asian stock markets turned higher on Wednesday as major US banks forecast Middle East oil flows returning to pre-Iran war levels.
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