Chevron CEO Says Oil Shortages Are Starting and Tight Jet Fuel Could Lift U.S. Prices
Chevron Chief Executive Officer Mike Wirth said oil shortages tied to the Strait of Hormuz crisis are starting to appear, with jet fuel becoming so tight in Europe that some flights are being canceled or rescheduled. Wirth said the strain in the global market could push U.S. prices higher as supply outages emerge in some economies.
Wirth had warned earlier that physical shortages would begin appearing around the world because of the closure of the Strait of Hormuz, through which about 20% of global crude supply passes. He said Asian economies were likely to be hit first.
From the sources (8 posts)
@ajenewsBREAKING: Chevron CEO says physical shortages in oil supply to begin appearing 🔴 LIVE updates:
@ajenglishRT @AJENews: BREAKING: Chevron CEO says physical shortages in oil supply to begin appearing 🔴 LIVE updates: https:…
@ajenglishBREAKING: Chevron Chairman and CEO Mike Wirth says that physical shortages in oil supply will begin appearing around the world because of the closure of the Strait of Hormuz, through which 20% of the global crude supply passes. 🔴 LIVE upda
@iranintl_enChevron CEO Mike Wirth warns oil shortages will emerge globally due to the Hormuz closure, with Asian economies likely to be hit first.
@philippilkRT @TheChiefNerd: NOW — Chevron CEO Says Global Oil Shortages Are Starting, U.S. Prices Could Go Even Higher “We're starting to see risks…
@boweschayChevron CEO warns global oil shortages from Hormuz crisis have arrived The executive pointed to tightening supplies and flight cancellations in Europe due to scarce jet fuel, stressing that the interconnected global market will pass price
@oilheadlinenewsChevron CEO Says Global Oil Shortages Are Starting, U.S. Prices Could Go Even Higher “We're starting to see risks of supply outages in some of these economies. In Europe you're see flights canceled and schedules re-optimized because jet fu
@staunovoChevron CEO says shortages in oil supply will begin appearing #oott