niuz

Dr Sultan Al Jaber urges energy security overhaul as nearly billion barrels drawn from oil markets

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The National
“Dr Sultan Al Jaber urges energy security overhaul as nearly billion barrels drawn from oil markets”

The disruption of shipping through the Strait of Hormuz has drained nearly one billion barrels from global oil inventories, exposing the need for a fundamental rethink of energy security, the Adipec conference in Abu Dhabi heard on Monday. “Simply put, the world has eroded its supply buffers,” said Dr Sultan Al Jaber, UAE Minister of Industry and Advanced Technology and managing director and group chief executive of Adnoc. “But, trust me, supply is only half the story. The other half is…

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