Signs of physical shortages in crude oil are emerging, the chief executive of Chevron warned this week, noting that this will first hit Asian economic growth.
Geopolitics is the “biggest disruptive theme” for this year, the statement revealed, noting that “the Iran conflict and the resultant supply chain disruptions arising from the Strait of Hormuz blockade makes ‘geopolitics’ and ‘supply chain’ … the key themes impacting the oil and gas industry in 2026”.
Curious Minds Corner
In what year did crude oil prices hit their all-time peak over the past century?
2008, when Brent crude topped $147 per barrel amid supply fears and demand surges.