ADNOC: World Drained 1B Barrels from Inventories After Hormuz Disruption
ADNOC CEO Sultan Al Jaber said the world has eroded its supply buffers after 1 billion barrels of oil were drained from global inventories following the disruption of Strait of Hormuz traffic. He called for strategic storage and refining capacity closer to consumers.
Original · OilPrice.com AI summary of public reporting
Why: Hormuz disruption drains 1B barrels from inventories
Loading market data…
Recent signals
No matching events
Prices since publication
At publication → CurrentBRENTOIL108.81 → 105.91−2.7%
CL99.66 → 97.00−2.7%