Oil bosses warn prices will soar in a matter of weeks as inventories near unprecedented lows — ‘I mean really, really low levels’
Executives from Exxon and Chevron are warning that oil prices are poised to surge in the coming weeks due to critically low inventory levels. They highlighted that global reserves are being depleted rapidly, and the market's ability to absorb disruptions is diminishing. Analysts predict that prices could rise significantly by June or July as operational lows are approached, forcing a new, higher energy price environment until demand decreases. AI
