{
  "id": 18000004,
  "title": "Nearly 1bln barrels of crude drawn from inventories since Hormuz disruption: ADNOC CEO",
  "url": "https://urgent.news/2026/11/03/nearly-1bln-barrels-of-crude-drawn-from-inventories-since-hormuz",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-11-03T18:00:54.000Z",
  "source": {
    "name": "Hellenic Shipping News",
    "slug": "hellenic-shipping-news",
    "url": "https://www.hellenicshippingnews.com/nearly-1bln-barrels-of-crude-drawn-from-inventories-since-hormuz-disruption-adnoc-ceo/"
  },
  "original_language": "en",
  "account": "Dr. Sultan bin Ahmed Al Jaber, Managing Director and Group CEO of Abu Dhabi National Oil Company (ADNOC), delivered the opening address at ADIPEC 2026 in Abu Dhabi. He emphasized that the global energy industry must rethink its approach to building, protecting, and delivering secure energy after a year of unprecedented disruption. Nearly one billion barrels of crude have been drawn from inventories since the disruption in the Strait of Hormuz, with some markets facing a significant LNG supply gap. Dr. Al Jaber highlighted the importance of strategic partnerships, resilient supply chains, and intelligent energy systems in navigating an increasingly uncertain global landscape. He outlined five steps for the energy industry to reduce the impact of future shocks, including expanded storage, robust market routes, operational intelligence, investor confidence, and people-focused approaches. Reflecting on the UAE's resilience, Dr. Al Jaber praised the country's leadership and foresight in modernizing ADNOC, which prepared the company for the disruptions. He praised President His Highness Sheikh Mohamed bin Zayed Al Nahyan's leadership and the UAE's commitment to dialogue, diplomacy, and political solutions for stability in markets and the global economy.",
  "summary": "The global energy industry must fundamentally rethink how it builds, protects and delivers secure energy, following a year of unprecedented disruption that has exposed critical vulnerabilities in international supply chains, Dr. Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology and Managing Director and Group CEO of the Abu Dhabi National Oil Company ...",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}