The world loses one billion barrels of oil

In normal times, a fifth of the world's liquid oil and gas passes this waterway. Over the past two months, however, world supply has lost about one billion barrels of oil.

This, according to Saudi oil giant Aramco's executive director, who added that it will take time for the system to return to normality, reports Sky News.

Our target is simple: to continue to reflect energy, even when the system is under pressure”, Amin Nasser told Reuters in a statement this morning.