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ExxonMobil Warns Oil Inventories May Hit Critical Low in Weeks, Pushing Crude Above $100

GateNews

2026-05-29 03:55:36

According to ExxonMobil executive Neil Chapman, oil inventories will reach critically low levels within the next two to three weeks due to Middle East tensions, forcing crude prices to surge sharply. Speaking at a Bernstein conference, Chapman stated that once inventories hit that threshold, prices will spike significantly.

Meanwhile, crude oil futures remain below $100 per barrel as markets hold optimism about a potential U.S.-Iran agreement.

Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.

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