At the opening of Adipec 2026, Adnoc CEO Sultan Al Jaber warned that the ongoing conflict in the region has left the world in a precarious position regarding energy security. Since the disruption of shipping routes through the Strait of Hormuz, global oil inventories have seen a massive decline of nearly one billion barrels. This shortage has hit the diesel market particularly hard, with stockpiles reaching 35-year lows and LNG supplies facing a significant deficit. With logistical costs now accounting for 30% of the price of a barrel compared to just 5% before the conflict, the economic strain is fueling inflation and threatening the cost of living for consumers worldwide.

In response to these challenges, industry leaders are calling for urgent investments in infrastructure to fortify the global energy supply chain. Al Jaber emphasized the necessity of expanding strategic storage and building more flexible refining capacity closer to consumer hubs. As the Adipec 2026 conference kicks off in Abu Dhabi, drawing over 239,000 participants from across the globe, the focus remains on fostering partnerships and technological innovation. With Brent crude hovering around $110 a barrel, the event serves as a critical platform for world leaders and energy experts to navigate the current crisis while developing sustainable strategies for future energy growth.