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Chevron CEO warns of system vulnerability due to depletion of oil buffers

Fox Business +1 ·

CVX Chevron Corp
$222.04 +1.98%
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  1. 1Chevron CEO Mike Wirth warned that the depletion of oil buffers has made the system more vulnerable to disruptions.
  2. 2The International Energy Agency stated that the diesel market will remain tight through 2027.
  3. 3A daily average decrease of 5.8 million barrels in global oil supply is expected this year.

So what's the key point?

The margin for stockpiling oil has decreased, making the supply more prone to disruptions. Global oil supply is expected to decrease by an average of 5.8 million barrels per day.

Source Fox Business +1 · View original ↗

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