Goldman Sachs: Gulf oil exports rebound to 2025 levels
Goldman Sachs reports reveal that oil exports from Gulf countries have returned to their normal levels by 2025, reaching approximately 23.3 million barrels per day last week, with a notable increase across the Strait of Hormuz, including vessel-to-vessel transfers. The reports emphasize that 90% of this recovery is due to crude oil exports, which amounted to about 19 million barrels per day—more than 100% of the 2025 average. While exports of some products such as refined fuels and liquefied petroleum gas continue to rise, exports of diesel, gasoline, and jet fuel are still significantly below normal levels, at around 50%. The market experienced a roughly balanced state in September, with forecasts predicting Brent crude oil prices to fall to $85 per barrel by the end of the year and to $80 in 2027, despite potential risks due to geopolitical escalation.
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