Chevron CEO Says Oil Prices Likely to Rise This Summer Amid Iran Tensions

GateNews
On May 28, Chevron CEO Mike Worth stated at a Bernstein investment conference that global crude oil inventories are declining due to Iran-related tensions, indicating oil prices will likely rise over the next two months, according to CCTV Finance. The statement reflects broader concerns that energy price impacts will persist for months even if regional conflicts are resolved. Additionally, U.S. strategic petroleum reserves are declining at a near-record pace amid Middle East geopolitical tensions, with commercial crude inventories also at low levels, CNN reported on May 28.
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