Chevron warns of oil shortage risks

Chevron has issued serious warnings regarding the depletion of global oil reserves, emphasizing that markets have become highly sensitive to any future disruptions due to the current low inventories. These inventories were high at the beginning of 2026 but have been gradually depleted as a result of withdrawals by companies and governments. The global fuel market is experiencing a severe crisis, with the price of a gallon of diesel in the United States reaching a record high of $6.53. Officials expect the supply shortage to continue until the second half of 2027, due to weak oil supplies and structural challenges in refining. The White House is seeking to implement measures, including reversing the ban on US diesel exports and temporarily lifting sanctions on Russian diesel, to address rising prices and the consequences of supply shortages ahead of the Congressional elections.

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