Hormuz chaos removes a billion barrels from world stocks

November 3, 2026 3

Disruption to shipping through the Strait of Hormuz has drained nearly one billion barrels of oil from global inventories, Abu Dhabi National Oil Company chief executive Dr Sultan Ahmed Al Jaber says. Al Jaber warned that the prolonged disruption was putting further pressure on global energy supplies and markets. The Strait of Hormuz is a key route for oil shipments from the Gulf to international markets. Disruptions to shipping through the waterway can affect supplies to major energy-importing countries and add pressure to global oil markets. Al Jaber’s warning points to the scale of the impact on global inventories as shipping through the strategic waterway remains disrupted.

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