Goldman Sachs Sees Rapid Oil Output Recovery if Iran War Ends

Crude oil production recovery to pre-war levels could take just a few months, Goldman Sachs analysts said, adding a note of caution that recovery could also take longer than that. The bank estimates lost production in the Middle East at 14.5 million barrels daily as of this month. However, most of that is the result not of physical damage to fields but of precautionary well shut-in and “stock management”, the analysts noted, as quoted by Reuters. However, it bears noting that the amount of lost production represents over half of the…