ExxonMobil warns crude oil could surge to $160 per barrel as global inventories hit critical lows

Oil may hit $160 as inventories near record lows

Exxon Mobil's SVP Neil Chapman warned at a Bernstein conference that global oil inventories are approaching record lows, with crude potentially spiking to $150–$160/barrel. Energy-intensive sectors and companies with unhedged exposure should reassess fuel cost assumptions in 2026 budget models, as a supply-driven price shock would pressure margins across logistics, manufacturing, and data center operations.