Chevron CEO Warns About Physical Oil Shortages Amid Supply Disruptions
Chevron's CEO Mike Wirth has warned that physical oil shortages are starting due to a significant drop in supply from the war with Iran and the closure of the Strait of Hormuz. Global stockpiles have fallen to an eight-year low, leading to concerns about sustained high prices as inventories deplete.
Topics: energy geopolitical_conflict global_economy oil_prices