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"Approaching Unheard Of Inventory Levels": Exxon, Chevron Issue Apocalyptic Warning About What Happens Next To Oil
"We're approaching unheard of inventory levels. I mean, really, really low levels. Once you get to that point, then you'll see price shoot up. Once you get to that really low inventory level, up to $150, $160." - Neil Chapman, SVP at Exxon.
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oilprice.com
Shrinking Oil Inventories Raise Fears of Prolonged Energy Crisis | OilPrice.com
Analysts warn record inventory drawdowns, collapsing Hormuz exports, and rising summer fuel demand are tightening markets far faster than expected.
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cnbc.com
Exxon warns oil inventories will hit dangerously low levels in weeks, forcing prices to shoot higher
The price of physical Brent oil cargoes will spike to $150 to $160 per barrel once inventories hit all-time lows, Exxon executive Neil Chapman said.
