Chevron CEO Warns Global Energy System Under ‘Extreme Stress’

Chevron Corp. is worried that global oil supplies are running dry as the US-Israel war with Iran enters its third month.

“That’s certainly the scenario we’re concerned about,” Chief Executive Officer Mike Wirth said Friday in an interview on CNBC. “If we don’t get supply reestablished, demand will have to come down across different sectors of the economy. That’s the big concern that everybody has as we try to avoid a scenario where that becomes extreme.”