ADNOC CEO says Hormuz shut is the most severe supply disruption on record; it will take at least four months to get back to 80% of pre-conflict flows

Once you accept that a single country can hold the world's most important waterway hostage, freedom of navigation as we know it is finished. Used trading networks to expand supply to Asia. Working with partners in Asia to expand and restock strategic stock. Moved ahead with a new pipeline to bypass Hormuz in 2025, and today it is already 50% complete. Global spare capacity is at about 3mln BPD, and should be at 5mln BPD. UAE's OPEC exit gives greater flexibility to invest.  UAE will remain a disciplined, responsible, stabilising force in the energy markets.