Chevron CEO: $100 per barrel oil is possible

 

Chevron CEO talks oil industry recovery post-pandemic: ‘We’re generating strong cash’

Chevron CEO Mike Wirth discusses the statistics surrounding Chevron and the oil industry’s strong growth since the pandemic on ‘The Claman Countdown.’

Chevron CEO Mike Wirth says the prospect of oil hitting $100 per barrel is not out of the realm of possibility in the coming months, pointing to recent markets trends and global uncertainty.

Wirth appeared on FOX Business' "The Claman Countdown" on Friday, where host Liz Claman noted, "Oil hit $90 a barrel earlier this week, and you look at Wall Street's $100 a barrel forecast by this summer, that suddenly doesn't look so lofty."

International benchmark Brent crude hit $90 on Wednesday. On Thursday, The Wall Street Journal reported that Morgan Stanley analysts had lifted their summer forecast for Brent to $100, and so did Goldman Sachs. Bank of America predicted it will hit $120 by July.

Wirth

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