Gulf Oil Exports Rebound to Two Thirds of Pre War Levels, Despite Iran War

According to a Goldman Sachs note carried by Bloomberg and reported by Oilprice.com on Friday, 6 Shahrivar 1405 (August 28, 2026), crude and product export volumes from the Persian Gulf have recovered to about two thirds of their typical pre war levels. The bank said the whole West Asia region is now shipping out 15 to 16 million barrels a day, 5 to 6 million barrels above the March 2026 (Esfand 1404) trough, though still 7 to 8 million barrels a day below February (Bahman 1404) levels before the war.

Goldman Sachs analysts said a rise in dark, untracked transits and ship to ship transfers shows producers and shippers are adapting to the conflict, a trend that could cap oil price gains even if disruption in West Asia continues. Outbound flow through the Strait of Hormuz alone is now close to the US estimate of 8 to 10 million barrels a day, the note said.