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Chevron CEO Mike Wirth says signs of physical shortages in crude oil are emerging.
Chevron CEO Mike Wirth warns that physical crude oil shortages are now emerging globally.
KEY POINTS
- Japan received its first Russian Sakhalin crude shipment in two years due to Middle East disruptions.
- Global oil inventories have dropped to an all-time low, according to Goldman Sachs analysts.
- Middle Eastern producers have lost over 13 million barrels per day in crude oil output since the conflict began.
- Global oil stock depletion is accelerating despite record-high U.S. oil exports.
COMPANIES
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