ExxonMobil Executives Warn Oil Prices Will Rise as Supply Buffers Deplete
ExxonMobil's CEO and Senior Vice President warned that oil prices are likely to rise significantly due to depleting supply buffers following the Iran war and closure of the Strait of Hormuz. The executives noted that physical market inventories have been drawn down, leading to concerns about imminent price increases.
Tickers: $XOM
Topics: geopolitical_conflict inventory_drawdowns oil_prices