BREAKING: Gulf oil output collapses ~57%, down ~14.5M bpd, as war disrupts production in Saudi, Iraq, UAE, Iran. Goldman warns Hormuz reopening may take months.
Gulf oil output collapses approximately 57%, down about 14.5 million barrels per day, as war disrupts production in Saudi Arabia, Iraq, UAE, and Iran. Goldman Sachs warns that reopening the Strait of Hormuz may take months to restore supply.