CVX · News · 20260911N

Oil and Gas Price Sensitivity

CHEVRON CORP · 2026-09-11 · Importance 51 · Surprise 64

Chevron CEO Mike Wirth said crude-oil supply buffers that had limited price increases earlier in the U.S.-Iran conflict have been depleted. He said the conflict could push oil prices higher over the next few months, after strategic stockpile releases and other supply measures were exhausted. Brent crude was reported to have risen more than 50% since the Middle East war began.

Key facts

• Yahoo reported that Brent crude had already surged over 50% since the Middle East war began. source
• Chevron CEO Mike Wirth said oil buffers that limited crude price increases earlier in the Iran war have been depleted, and the conflict could lift prices further over the next few months. source