The chief executive of Abu Dhabi’s state oil company, ADNOC, said on Monday, the 11th of Aban that, since shipping disruptions in the Strait of Hormuz following the war by the United States and Israel against Iran, nearly one billion barrels of oil have been removed from global reserves.

Sultan Al Jaber added that the world has worn down its supply buffers. He did not clarify the location or occasion for these remarks and did not provide a breakdown figure.

In Esfand 1404, a few days after the start of the war, the United States began releasing 172 million barrels from its strategic petroleum reserves, and 32 members of the International Energy Agency announced the release of 400 million barrels from emergency reserves. At that time, the United States’ strategic reserves were about 415 million barrels.

Oil exports from Gulf countries on the sidelines, in September, on average reached 81% of the pre-war rate, and OPEC+ on Sunday kept the December production ceiling unchanged.

On Monday, Brent crude oil prices fell by 3.2% to $109.75 per barrel.