NEW YORK, April 24. /TASS/. The volume of oil supplies from the Persian Gulf countries fell by 57% in April compared to levels recorded before the US and Israeli military operation against Iran started, according to estimates from Goldman Sachs, one of the world’s largest investment banks.
Oil production in the region has lost 14.5 mln barrels per day this month. The bank believes it will take months to restore the levels before the conflict, assuming the resumption of shipping in the Strait of Hormuz and a full ceasefire.
The global oil market is under increasing pressure due to the situation in the Middle East. The price of a barrel of benchmark Brent crude has risen for the fifth day in a row, with a weekly gain of 17%. On Thursday, the price of Brent futures for June 2026 delivery on London’s ICE exceeded $107 per barrel for the first time since April 7, 2026. According to the bank’s analysts, the longer the Strait of Hormuz remains closed, the longer the restrictions on oil production and supply will persist, and the slower the recovery in production volumes is likely to be.