CEO of the Abu Dhabi Oil Company: Almost a billion barrels have fallen from global reserves Sultan Al-Jaber, CEO of the Abu Dhabi National Oil Company (ADNOC), says that since the beginning of the war between America and Israel against Iran, the world's reliable energy reserves have decreased and almost a billion barrels of oil have been removed from global reserves. Al-Jaber stated at an energy conference in Abu Dhabi that transportation and logistics costs have reached more than 30% of the price of each barrel of oil; The figure before the war was 5%. The amount of diesel reserves in some markets has reached the lowest level in the last 35 years (in this part of the year). This new reality means we must expand strategic reserves and build flexible refining capabilities close to consumer markets.

CEO of the Abu Dhabi Oil Company: Almost a billion barrels have fallen from global reserves Sultan Al-Jaber, CEO of the Abu Dhabi National Oil Company (ADNOC), says that since the beginning of the war between America and Israel against Iran, the world's reliable energy reserves have decreased and almost a billion barrels of oil have been removed from global reserves. Al-Jaber stated at an energy conference in Abu Dhabi that transportation and logistics costs have reached more than 30% of the price of each barrel of oil; The figure before the war was 5%. The amount of diesel reserves in some markets has reached the lowest level in the last 35 years (in this part of the year). This new reality means we must expand strategic reserves and build flexible refining capabilities close to consumer markets.