Oil Giants Warn of Critical Shortages and Soaring Prices

Chevron, ConocoPhillips Warn About "Critical Shortages" Of Oil, Soaring Prices And Demand Destruction

Chevron, ConocoPhillips Warn About "Critical Shortages" Of Oil, Soaring Prices And Demand Destruction This morning, most of the world's energy giants including Exxon and Chevron, reported stellar earnings as surging oil prices more than offset curtailed output. They also issued several loud warnings about the ongoing Hormuz blockage which is no closer to resolution.  ConocoPhillips was first, warning of imminent “critical shortages” of oil for some nations as the Iran war that h...

By Tyler Durden