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Exxon and Chevron warn of diesel shortages amid Iran conflict
The American oil companies ExxonMobil and Chevron expect continued shortages of diesel supplies and refined petroleum products during the second half of the year, making it likely that their prices will keep rising due to disruptions in the energy sector caused by the war with Iran. Both companies witnessed increased profits in the second quarter, driven by declining global inventories, difficulties faced by Russian refineries, and reduced exports from China. It is anticipated that pressures on oil product prices will persist into the third quarter and beyond. Additionally, the two companies announced that they are operating at full capacity, while warning that scheduled maintenance operations could impact sector profits in the coming period.
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