UAE Oil Boss Calls for More Stockpiles, Refining Closer to Users

The head of the UAE's largest energy company said the world needs greater capacity to store oil and produce fuels closer to consumers in response to disruptions affecting the Strait of Hormuz. The official did not specify a timeline for implementing such changes or estimate costs. The Strait of Hormuz is a critical chokepoint through which a significant portion of global oil shipments pass.

• Bloomberg — UAE Oil Boss Calls for More Stockpiles, Refining Closer to Users

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