UAE Oil Boss Says Hormuz Still Shut With Iran Restricting Access.

The article focuses on the ongoing closure of the Strait of Hormuz, with Iran restricting access and controlling energy flows to global markets, according to Sultan Al Jaber, chief executive officer of Abu Dhabi National Oil Company (Adnoc), the largest oil producer in the United Arab Emirates. Al Jaber emphasizes the need for the strait to be fully and unconditionally open to allow the passage of hundreds of oil tankers and enable regional producers to increase output. Iran has designated two safe maritime routes to avoid sea mines, but the blockage has forced Gulf producers to reduce oil, gas, and refined product output, contributing to sustained high oil prices above $100 per barrel. Adnoc plans to expand production within the limits imposed by war-related infrastructure damage while prioritizing employee and crew safety. [Extracted from the article]