What Chevron’s CEO Just Said About Global ‘Supply Outages’ Could Derail Trump’s Economic Momentum

What Chevron’s CEO Just Said About Global ‘Supply Outages’ Could Derail Trump’s Economic Momentum

The post What Chevron’s CEO Just Said About Global ‘Supply Outages’ Could Derail Trump’s Economic Momentum appeared first on 24/7 Wall St.. Quick Read Chevron (CVX) CEO warned of potential “supply outages” in Europe, Asia, and Australia tied to the Iran conflict, which could raise global oil prices and push U.S. gasoline prices higher despite domestic production strength; a $0.50 per gallon increase over two weeks costs a typical two-car house…

Chevron CEO Says Oil Storage Buffers Being Drawn Down - Energy News Beat

In a candid interview at the Milken Institute Global Conference, Chevron Chairman and CEO Mike Wirth delivered a sobering assessment of the global oil market: the industry’s traditional “shock absorbers” — commercial inventories in tanks, oil on tankers (including shadow fleet vessels), and strategic petroleum reserves — have been significantly drawn down in recent months amid ongoing disruptions from the closure of the Strait of Hormuz. Wirth n…