The world has eroded its supply buffers by draining nearly 1 billion oil barrels from global inventories since the US-Israeli war on Iran disrupted shipping through the Strait of Hormuz, the CEO of Abu Dhabi's state-owned oil company ADNOC said.
World's energy supply buffers have been eroded, ADNOC CEO says
AA Astro Awani 
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- ABU DHABI: The world has eroded its supply buffers by draining nearly 1 billion oil barrels from global inventories since the US-Israeli war on Iran disrupted shipping through the Strait of Hormuz, the CEO of Abu Dhabi's state-owned oil company ADNOC said.
- Prices of diesel in many markets have surged to record highs, boosted by wartime supply disruptions and pose inflation and cost-of-living threats to governments and consumers.
- The cost of shipping and logistics has risen to 30% of the cost of a barrel, from 5% before the Iran war, Al Jaber said.
Sentences selected automatically from the original article by Astro Awani.
Also reported by Free Malaysia Today
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5 stories on this topic from 3 sources, oldest first.
- Astro Awani World's energy supply buffers have been eroded, ADNOC CEO says (this story)
- Free Malaysia Today World’s energy supply buffers have been eroded, says ADNOC CEO
