Chevron CEO says economies 'are going to have to slow' as Strait of Hormuz closure disrupts oil supply

AI Summary

Chevron's CEO has warned of impending oil shortages worldwide due to the closure of the Strait of Hormuz, a critical chokepoint for global oil supply. The situation is likely to have significant economic repercussions as demand continues.

Chevron CEO Mike Wirth said physical oil shortages will appear globally due to the Strait of Hormuz closure, comparing the potential impact ...