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The Economic Times
The Economic Times

Goldman says Hormuz flare-up may delay recovery in oil supplies

Goldman Sachs Hormuz Oil Tehran Persian Gulf Washington D.C. the Persian Gulf

(Bloomberg) --A recovery in Middle Eastern oil supplies could be set back if renewed tensions disrupt shipping in the Strait of Hormuz, Goldman Sachs Group Inc. said.

Persian Gulf crude production in June was still about 10.5 million barrels a day below pre-war levels, according to Goldman estimates. “While Middle Eastern producers have started reopening their shut-in wells over the last month, Hormuz disruptions could slow down the production recovery,” analysts including Yulia Zhetkova Grigsby said in a July 8 note.

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