reuters.com

Chevron CEO Warns Depleted Oil Buffers Could Lift Prices

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Chevron CEO Mike Wirth said depleted crude buffers are likely to keep prices under pressure, with Brent futures on track for a weekly gain. He said Chevron will fund a planned $7 billion Venezuela expansion using cash from existing joint ventures, after signing new terms to add two oil areas and more than double output to about 600,000 barrels per day by 2031.

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