At ADIPEC, UAE Minister Sultan Al Jaber warned that disruptions in the Strait of Hormuz could affect
· Abu Dhabi, United Arab Emirates
At ADIPEC, UAE Minister Sultan Al Jaber warned that disruptions in the Strait of Hormuz could affect energy supplies. He said nearly 1 billion barrels had been drawn from reserves, diesel stocks in some markets were at seasonal lows not seen in 35 years, the LNG supply shortfall stood at 600 billion cubic feet, and oil logistics costs had risen from less than 5% to more than 30%. He urged diplomacy, preparedness, strategic reserves and alternative supply routes. Al Jaber also announced that ADNOC would become the first energy company to deploy OpenAI Frontier across field development, well man