Chevron CEO Wirth says diesel export ban risks fuel shortages
Business
Chevron CEO Mike Wirth isn't a fan of the Trump administration's idea to ban diesel exports.
He thinks it could actually make fuel shortages worse and says the US should stay a reliable supplier for the world.
Wirth also pointed out that policy changes can shake up allies and partners, especially as global markets are already tense.
US Iran tensions disrupt oil shipping
Ongoing conflicts in the Middle East, especially between the US and Iran, have disrupted major oil shipping routes: around 20% of the world's oil and liquefied natural gas supplies pass through these waters.
Saudi Aramco CEO even warned it might take up to two years to rebuild global oil inventories if things don't calm down soon, which could keep supplies tight for a while.