Crude oil flows from the Middle East are returning toward pre-war levels despite continued risks to shipping, according to separate estimates from JPMorgan Chase & Co. and Goldman Sachs Group Inc., Bloomberg reports.
These oil supplies from Middle Eastern countries have reached 98% of the amount delivered before the US and Israel launched military operations against Iran, according to data from JP Morgan.
According to the data, daily oil shipments have reached 17.5 million barrels.
At the same time, the amount of oil products supplies from the region is 3 million barrels per day, which is 58% of the pre-war figure.
“The Middle East’s oil export arteries are flowing again,” JPMorgan analysts said in a note Tuesday. That’s “a remarkable recovery for a region still at war,” although it’s been uneven, they said.
JP Morgan analysts added that oil supplies through the Strait of Hormuz have practically returned to around 13 million barrels per day, which corresponds to the level at the end of June.

















