Commodities
ADNOC's CEO says nearly 1bln of bbls were drained from global inventories since the Strait of Hormuz was disrupted and that the world has eroded its supply buffers, adds stocks of diesels in some markets are at 35yr lows for this time of the season
ORIGINAL · NewsquawkADNOC's CEO says nearly 1bln of bbls were drained from global inventories since the Strait of Hormuz was disrupted and that the world has eroded its supply buffers, adds stocks of diesels in some markets are at 35yr lows for this time of the seasonRead originalHide original
Cost of logistics and shipping rose to 30% of the cost of a barrel from 5% prior to the Iran war.
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ADNOC’s CEO cited nearly 1 billion barrels drained from inventories and eroded supply buffers; the report also noted low diesel stocks in some markets and higher logistics and shipping costs.
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Cost of logistics and shipping rose to 30% of the cost of a barrel from 5% prior to the Iran war.
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