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      Goldman Sachs Reports Recovery of Persian Gulf Oil Exports to 2025 Average

      Goldman Sachs has estimated that oil exports from the Persian Gulf, including dark exports, have returned to their 2025 average following a significant increase in September. The report highlights that Saudi Arabia led this recovery, with its exports surpassing the 2025 average, while Iran did not ship any crude by sea during the month. Dark exports refer to shipments where tankers disable their satellite transponders, complicating tracking efforts, particularly through the Strait of Hormuz.

      The bank's analysis indicates that crude and oil product exports from the region have rebounded to approximately 15 million to 16 million barrels per day, recovering from a low of 5 million to 6 million barrels per day in March. This recovery is attributed to adaptations by producers and shippers in response to ongoing conflicts. Recent data shows that crude exports from Middle East producers reached around 16 million barrels per day in September, marking the highest level since the onset of the conflict in late February.

      Despite the positive export figures, the oil market remains cautious. Brent crude prices fell by approximately 2.5% to around $103 per barrel, while West Texas Intermediate (WTI) remained below $90. Analysts suggest that the potential for further disruptions, particularly related to stalled US-Iran diplomatic talks, poses a risk to the recovery. The US Department of Energy has also offered up to 40 million barrels from its Strategic Petroleum Reserve to help stabilize the market.

      © 2026 KLEA News. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

      Source: KLEA News

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