The United Arab Emirates announced the reduction of global diesel reserves to a minimum in 35 years. The decrease in volumes was recorded in connection with the conflict in the Middle East, the head of the National Oil Company of Abu Dhabi, Sultan bin Ahmed Al-Jaber, noted. Speaking at the ADIPEC 2026 international conference, he added that markets are also facing a shortage of liquefied natural gas supplies. In addition, since the disruption of shipping in the Strait of Hormuz, almost a billion barrels of oil have been removed from the global supply, and logistics costs have risen to 30% of the cost of the barrel, compared to 5% before the conflict with Iran.

The United Arab Emirates announced the reduction of global diesel reserves to a minimum in 35 years. The decrease in volumes was recorded in connection with the conflict in the Middle East, the head of the National Oil Company of Abu Dhabi, Sultan bin Ahmed Al-Jaber, noted. Speaking at the ADIPEC 2026 international conference, he added that markets are also facing a shortage of liquefied natural gas supplies. In addition, since the disruption of shipping in the Strait of Hormuz, almost a billion barrels of oil have been removed from the global supply, and logistics costs have risen to 30% of the cost of the barrel, compared to 5% before the conflict with Iran.