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American oil giant predicts oil prices are likely to rise this summer

2026-05-30 07:47:36

Abstract generation in progress

Golden Finance reports that on May 30th, according to CCTV Finance, at a conference hosted by investment firm Bernstein, Mike Wirth, CEO of the American oil giant Chevron, stated that due to the Iran situation, global crude oil inventories are continuously declining, and oil prices are likely to rise significantly over the next two months. The Financial Times reported that Wirth's remarks reflect widespread concern: even if the conflicting parties agree on a ceasefire, the negative impact of the conflict on energy prices will persist for several months. Additionally, according to CNN on the 28th, affected by the ongoing Middle East geopolitical conflict, the U.S. Strategic Petroleum Reserve is depleting at an unprecedented rate in recent years, and commercial crude oil inventories are also at low levels.

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