Chevron Corporation & International Monetary Fund

Chevron Corporation: Chevron Corporation's CEO, Mike Wirth, has warned of physical shortages in oil supply due to the closure of the Strait of Hormuz, which would lead to economies shrinking, particularly in Asia.

International Monetary Fund: The International Monetary Fund has warned that the global economy faces a 'much worse outcome' if the Middle East war continues into 2027, with oil prices potentially reaching $125 per barrel. Its 'adverse scenario' is already in effect, indicating slower growth and higher inflation.

Chevron Corporation: The crude production loss from Gulf Arab countries in March was nearly equivalent to the combined production of Chevron Corporation and ExxonMobil, highlighting the scale of the disruption.

International Monetary Fund: The International Monetary Fund downgraded its forecast for global growth and increased its expectation for global inflation due to the Iran war, warning of a potential recession in a severe scenario.

Chevron Corporation: Chevron Corporation has a long-standing presence in Venezuela and is expected to significantly increase its commitment to the country's oil sector following the sanctions relief.

Chevron Corporation: Chevron Corporation's stock gained in premarket trading due to rising oil prices caused by the Iran conflict.