Crude Oil Shipments from the Middle East Return Toward Pre-War Levels
Reports from international financial institutions reveal that shipments through the Strait of Hormuz and the Persian Gulf have recorded a major recovery.
According to reports by JPMorgan and Goldman Sachs, despite ongoing maritime transport risks, crude oil flows from the Middle East have begun returning toward pre-war levels, and shipments in the Strait of Hormuz have recovered.
Assessments by JPMorgan Analysts
JPMorgan analysts reported that the Middle East's oil export arteries have begun flowing again, with crude oil shipments reaching 98 percent of pre-war levels.
Analysts stated that while the recovery is not evenly distributed, this situation is quite remarkable for a country in a war zone.
Strait of Hormuz and Shipment Rates
Crude oil shipments rose to 17.5 million barrels per day, while the flow of products such as diesel and gasoline stood at 3 million barrels per day.
It was determined that flows passing through Hormuz have almost returned to the peak levels of late June, primarily led by Saudi Arabia.
Goldman Sachs Report and Global Balance
Goldman Sachs reported that oil exports from the Persian Gulf, including covert shipments known as dark flows, climbed to 23.3 million barrels per day.
Bank analysts estimate that this figure is consistent with the 2025 average and that the global oil market was roughly in balance in September.
Risks and Operational Capacity of the Sector
Stating that the increase in transits should not be interpreted as an improvement in security, experts emphasized that the situation reflects the sector's ability to operate under risk.