Hawzah News Agency- the CEO of Abu Dhabi National Oil Company announced on Monday, speaking to energy industry figures and referring to the wide-ranging consequences of military tensions in the West Asia region, that nearly one billion barrels of oil have been withdrawn from global reserves since the start of the war on Iran. According to him, this dramatic decline shows that the global oil market has relied heavily on its precautionary reserves in recent months, and these reserves have now been “eroded.”

The ADNOC CEO stressed that the world’s precautionary energy reserves, which normally act as a shield against supply disruptions and price fluctuations, have reached a level where they can no longer play their role as market regulator as they did in the past. He warned that the continuation of this situation could significantly increase the global economy’s vulnerability to any new supply shock and set back the process of rebuilding reserves by years.

This senior Emirati oil official added that the decline in strategic reserves is not merely a technical issue but has broad security and economic consequences; because consumer countries will face limited options for compensating for supply shortages if a new crisis erupts. According to him, insufficient investment in production and storage capacity in recent years has also exacerbated this situation.

The CEO of Abu Dhabi National Oil Company further emphasized the need for cooperation between producing and consuming countries to rebuild precautionary reserves and strengthen market stability, and called for regional dialogues to reduce tensions. He stated that the continuation of war and political instability raises energy costs for all countries, and no country is immune to its consequences.

Energy experts, confirming this warning, also say that the reduction of nearly one billion barrels in global reserves has significantly reduced the market’s safety margin, and if tensions continue, there is a possibility of price surges and increased market volatility in the coming months. According to them, rebuilding these reserves requires extensive investment, political stability, and time, and cannot be compensated for in the short term.

This warning comes as global oil markets have repeatedly experienced severe price fluctuations in recent months, and concerns about supply security have become one of the main axes of economic and political discussions worldwide.

Source: iuvmpress.co