Sep. 12 at 3:21 AM
$PR 🇺🇸❌🇮🇷🛢️⚡Middle East tensions: Chevron CEO says depleted buffer stocks are increasing pressure on oil prices
With crude oil prices already trending upward, the energy market faces the risk of further strain. Speaking at a recent conference, Chevron CEO Mike Wirth warned that the initial buffers that previously helped curb price spikes have now been fully exhausted.
According to the head of the US giant, the depletion of these safety reserves leaves the market without a cushion against major geopolitical risks—specifically the conflict involving Iran. Without these stocks to absorb supply shocks, the oil market is left directly exposed, heightening the risk of a further surge in the price per barrel in the short term.
