Sultan Al-Jaber, CEO of the Abu Dhabi National Oil Company, announced on Monday, November 2, that since the disruption of shipping in the Strait of Hormuz due to the Iran war, nearly a billion barrels of oil have been removed from global reserves. He added that the world has reduced its oil reserves.
Al-Jaber also said that diesel stocks in some markets have reached their lowest level compared to the same period of the year in the last 35 years.