GULF OIL OUTPUT PLUNGES 57%, RECOVERY MAY TAKE MONTHS Goldman Sachs says Gulf crude production has dropped by 14.5 million barrels per day — about 57% below pre-war levels — and may take months to recover even after the Strait of Hormuz reopens. Analyst Daan Struyven says output could rebound within months if there are no further attacks and shipping fully resumes. But tanker shortages and well damage are major constraints, with available tanker capacity already down about 50%. While limited physical damage and spare capacity from Gulf producers could help, forecasts from the Energy Information Administration and International Energy Agency suggest only 70% recovery after three months and 88% after six. Goldman warns renewed conflict could cause lasting damage to production capacity.(*Walter Bloomberg)