Bloomberg
Goldman Flags Up Oil Surplus Even as Nations Rebuild Stockpiles
Wednesday, July 1, 2026
Goldman Sachs said the global oil market will shift to oversupply as disruptions from the Iran conflict ease and shipping through the Strait of Hormuz returns to normal levels. The bank cited the recovery of transit flows through the strategic waterway as a factor in its outlook. Goldman did not provide a timeline for when the surplus would materialize.
