Exxon chief warns of skyrocketing energy prices as shareholders approved plan to exit blue state

Price Shock Looms — $160 Oil WARNING…

An oil executive’s warning that prices could “soar” as reserves dwindle is a flashing red light for American families still paying the price for years of anti-energy, anti-drilling policy. Story Snapshot Oil executives and analysts say the world is drawing down prewar crude supplies and emergency stockpiles, shifting into a shortage regime that can drive prices sharply higher.[1] Global and United States reserves have been declining at a record…

Exxon chief warns of skyrocketing energy prices as shareholders approved plan to exit blue state

ExxonMobil VP warns crude oil prices could hit $160 per barrel as oil inventories plummet.

Exxon warns: stocks are running low and oil is nearing $160. Risk of a serious crisis in Europe. - Economic Scenarios

The warning comes from the highest levels of the energy industry and is very clear: energy prices could explode in the coming weeks. Neil Chapman , vice president of ExxonMobil, spoke bluntly at the recent Bernstein Conference in New York. According to his analysis, the price of crude oil could soon reach $150 or even $160 a barrel. The main cause is the depletion of physical supplies, which are hitting rock bottom. On the same day this alarm wa…

ExxonMobil warns crude oil could surge to $160 per barrel as global inventories hit critical lows

A surge in oil prices could exacerbate inflation, impact monetary policy, and strain industries reliant on energy, affecting global economies. The post ExxonMobil warns crude oil could surge to $160 per barrel as global inventories hit critical lows appeared first on Crypto Briefing.

Exxon Texas Vote Faces $160 Oil Warning While Hormuz Talks Stall

Exxon Mobil’s Neil Chapman warned crude prices could jump to $150-$160 a barrel within weeks if global inventories hit minimums, citing “unheard of” low stocks. Brent crude closed Friday at $92.05. Exxon shareholders approved moving the company’s legal home to Texas, with 71.2% in favor. Chevron CEO Mike Wirth also expects prices to rise as the Hormuz blockade cuts global supply. The post Exxon Texas Vote Faces $160 Oil Warning While Hormuz Talk…