Chevron CEO Warns Oil Buffers Are Gone: Why Prices Face Upside Risk

Chevron CEO Warns Oil Buffers Are Gone: Why Prices Face Upside Risk

Chevron CEO Mike Wirth warns that oil market buffers absorbing shocks from the Iran conflict have largely disappeared. With inventories drawn down and a key Saudi pipeline offline, upside price risks grow. The assessment challenges White House optimism while Chevron bets $7 billion on Venezuelan growth.

Chevron CEO warns of rising oil prices amid supply disruptions

Rising oil prices could strain global economies, increase inflation, and heighten geopolitical tensions, impacting energy policies worldwide.

Chevron CEO sends a strong message on oil price and the economy

Americans have paid about $97 billion more for fuel since the Iran war started in late February, roughly $740 extra per household, according to CNN. President Trump says prices will come down after the midterms. The CEO of Chevron just said publicly he does not see how that happens quickly. Mike…