US-Iran conflict escalation drags down Persian Gulf shipping volume by 70%, Goldman Sachs: Middle East oil production process may be interrupted.

Chinatimes Finance APP has learned that Goldman Sachs Group pointed out that if the geopolitical tension in the Middle East escalates again and disrupts shipping in the Strait of Hormuz, the process of oil supply recovery in the region may be hindered. According to Goldman Sachs' estimates, crude oil production in the Persian Gulf region in June this year is still about 10.5 million barrels per day lower than before the war. Analysts led by Yulia Zhetkova Grigsby stated in a report on July 8th, "Although oil-producing countries in the Middle East have started to restart shut-in wells in the past month, if there is a navigation interruption in the Strait of Hormuz, it may slow down the pace of production recovery."