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Chevron's CEO Thinks the World Is Out of Spare Oil. He Is Betting $7 Billion on Being Right.
Source: 247wallst.com
Energy Markets & PricesCommodities & Raw MaterialsGeopolitics & WarCompany Fundamentals
Chevron CEO is committing $7 billion to a high-risk oil-producing region, reflecting his view that the world’s emergency oil supply buffers have been permanently depleted. The investment signals a bullish long-term oil outlook but carries substantial geopolitical and execution risk given the location’s instability.
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