Chevron’s Mike Wirth Warns of Emerging Physical Shortages in Crude Oil, Asian Markets to be Hit Hard Chevron CEO Mike Wirth said signs of physical crude oil shortages are emerging, warning that economies will need to slow as demand adjusts to constrained supply. Speaking at an event, Wirth stated, “We will start to see physical shortages,” as quoted by Reuters. He added that “demand needs to move to meet supply” and that “economies are going to have to slow.” [1] The warning comes as the Middle East conflict disrupts maritime routes and cuts production. Wirth noted that Asian economies are…
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