Global Oil Reserves Reduce by 1Bln Barrels Due to Strait of Hormuz Blockade - ADNOC CEO

NAMPA / Sputnik
2026-11-02
ABU DHABI, November 2 (RIA Novosti) - A military conflict around Iran and the effective closure of the Strait of Hormuz, a vital passage leading out of the Persian Gulf, have resulted in a reduction of global oil reserves by 1 billion barrels, Sultan Al Jaber, the UAE's industry and advanced technology minister and CEO of the Abu Dhabi National Oil Company (ADNOC), said . "Due to the closure of the Strait of Hormuz, global reserves have shrunk by......
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