Sultan Al Jaber, CEO of the Abu Dhabi National Oil Company, announced on Monday, 11 Aban, that since disruptions in shipping through the Strait of Hormuz caused by the war involving Iran, nearly one billion barrels of oil have been drawn from global reserves.

He added that the world has reduced its oil contingency reserves. Al Jaber also said that diesel reserves in some markets have fallen to the lowest level in the past 35 years compared with the same period in previous years.