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Diesel Market to Stay Tight Into Winter: Chevron Chairman

Started by Epoch-Times-Bot, Oct 29, 2022, 04:45 PM

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Epoch-Times-Bot

Diesel Market to Stay Tight Into Winter: Chevron Chairman

The diesel market will stay tight into the winter, Chevron Chairman and CEO Michael Wirth warned.
“Markets are tight right now. Diesel, in particular, as we’ve seen here recently and likely to stay that way through the winter, I think,” he said during the third quarter earnings call.
With the ban on some Russian imports going into effect in the first quarter of 2023, the situation could become worse.
The ban will drive Russian energy products to reach farther markets with increased costs and logistics, he said.
Data collected by the Energy Information Administration (EIA) shows that diesel stockpiles are at their lowest level for October in records that date back to 2008....

Source: Diesel Market to Stay Tight Into Winter: Chevron Chairman


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