Chevron CEO Warns of Oil Price Snapback
Raleigh News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
Chevrons CEO warns of oil price optimism, despite Trumps Iran deal push. Despite oil prices dipping, Chevrons Mike Wirth cautions that oil futures arent reflecting the real physical disruptions from the Strait of Hormuz shutdown. With twenty percent of the worlds oil flowing through this strait, reduced tanker traffic and output cuts by Gulf producers could lead to a longer squeeze, potentially boosting Chevrons cash flow and causing prices to snap back.
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