Goldman Sachs: The flow of refined oil through the Strait of Hormuz has dropped to 35% of pre-war levels

Goldman Sachs executives stated that the refined oil flow through the Strait of Hormuz is at 35% of pre-war levels, while crude oil is at 70%. The impact of the Middle East supply shock on refined oil is greater than on crude oil, especially for heavy products like diesel.

Kpler data shows that last year, approximately 2.2 million barrels of refined oil were exported daily through the Strait of Hormuz, while crude oil was 14.95 million barrels per day.