Chevron CEO sees elevated oil and refined product prices amid supply constraints

Chevron $CVX CEO Mike Wirth reported elevated prices for both crude oil and refined products globally in Q3 results. The company emphasized strong refining margins driven by supply-side constraints, particularly following Russian refining capacity losses linked to geopolitical tensions.

Exxon $XOM estimates half of Russia's refining capacity is offline, while the company expects global refining capacity recovery could begin next year but may take longer. Major banks have raised Q1 2027 Brent forecasts amid persistent supply pressures.

#energie #petrole #geopolitique