Shaikh Nawaf Al-Sabah

Global oil inventories have fallen to critically low levels, with less than six billion barrels commercially available, raising market fragility and price pressures amid Middle East and Ukraine conflicts straining supplies worldwide.

Global conflicts disrupting Middle Eastern shipping routes have prompted major energy companies to abandon efficient just-in-time supply models, instead pursuing alternative pipelines through Iraq and the UAE to bypass the Persian Gulf and Red Sea chokepoints.