Tag
#Chevron
Commodities
Motor-oil shortage fears show how the Iran shock is spreading beyond crude
Synthetic motor oil prices surge as Iran war severs 44% of US Group III base oil imports. Toyota and Nissan are now rationing supplies to dealerships, with normal supply not expected until mid-2027.
By Sloane Carrington
Commodities
Wirth says physical oil shortages near, calls Hormuz disruption 1970s-scale
Chevron CEO Mike Wirth told the Milken Institute Global Conference on Monday that physical oil shortages will surface globally and that economies will have to slow, comparing the Strait of Hormuz closure to the 1970s oil crises.
By Reza Najjar
