Goldman Sachs: Gulf States accelerating the construction of oil pipelines around the Strait of Hormuz

ACCORDING TO THE GOLDMAN SACHS ANALYSIS, GULF STATES ARE ACCELERATING THE CONSTRUCTION OF OIL PIPELINES AROUND THE STRAIT OF HORMUZ TO REDUCE THEIR DEPENDENCE ON THE STRAIT. GOLDMAN SACHS' ANALYSIS SUGGESTS THAT THE RISKS IN THE STRAITS OF HORMUZ WILL GRADUALLY DIMINISH AND THAT THE CURRENT GEOPOLITICAL PREMIUMS IN BRENT AND WTI OIL PRICES ARE UNLIKELY TO RECEDE RAPIDLY. GOLDMAN SACHS EXPECTS THAT BY THE END OF 2027, MORE THAN 45 PER CENT OF GULF OIL EXPORTS WILL BE ABLE TO AVERT RISKS IN THE STRAIT OF HORMUZ, AND THAT THIS PROPORTION IS EXPECTED TO RISE TO OVER 60 PER CENT BY THE END OF 2028。