Gulf oil output likely to rebound within months after Hormuz reopening, Goldman says

Goldman Sachs said Gulf oil production, sharply curtailed by the Iran conflict, should mostly recover within a few months after the Strait of Hormuz fully reopens, though normalization could take significantly longer. The outlook implies near-term volatility for global oil supply and prices, with geopolitical risk still the key variable for energy markets.

Analysis

Goldman Sachs said Gulf oil production, sharply curtailed by the Iran conflict, should mostly recover within a few months after the Strait of Hormuz fully reopens, though normalization could take significantly longer. The outlook implies near-term volatility for global oil supply and prices, with geopolitical risk still the key variable for energy markets.