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

Newsquawk StaffPublished 20 May 2026, 12:30 UTCOn the live feed at 12:10 UTC — 3 more headlines followed before this page went public

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12:26

Iran’s IRGC Navy says 26 vessels, including oil tankers, container ships and other commercial vessels, transited the Strait of Hormuz in the past 24 hours in coordination with Iran, SNN reports

12:11

RBI is to conduct USD 5bln USD/INR buy-sell swap auction on May 26th

12:10

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

12:09

Volkswagen CEO (VOW3 GY) says there are currently no discussions or negotiations with Chinese manufacturers; says Volkswagen must address overcapacity to remain competitive

12:09

UK government apologised for its handling of the Russian oil products sanctions, Bloomberg's Wickham reports; Trade minister Chris Bryant concedes it was handled “clumsily” and suggests it was a cock-up

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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.

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