# Exxon, Chevron Warn Oil Prices to Jump in Weeks

**Published:** 2026-05-30T22:54:00.000Z  
**Topic:** Oil  
**Sentiment:** bullish  
**Publisher:** TrendWatcher — https://www.trendwatcher.in/article/2a425522-f9b6-4684-b666-99948eefdee4

Top oil executives warn that global inventories are nearing critical lows, predicting a sharp price surge within weeks as the Strait of Hormuz remains closed.

Executives from Exxon Mobil and Chevron have issued stark warnings that global oil prices are poised to surge within weeks as inventories approach critically low levels. Speaking at an industry conference, Exxon Senior Vice President Neil Chapman stated that stockpiles are nearing "unheard of" depths, suggesting the market is weeks away from a

## Sources
1. Fortune — [Oil bosses warn prices will soar within weeks as inventories near...](https://fortune.com/2026/05/30/oil-prices-outlook-warnings-exxon-chevron-inventories-operational-lows/)
2. Npr — [High gas prices have drivers lining up at Costco and Walmart : NPR](https://www.npr.org/2026/05/29/nx-s1-5838740/how-stressed-are-americans-about-high-gas-prices-fueling)
3. Livemint — [Exxon and Chevron warn oil could hit $160 as Iran war pushes...](https://www.livemint.com/news/world/exxon-and-chevron-warn-oil-could-hit-160-as-iran-war-pushes-stockpiles-to-really-low-levels-11780184883872.html)

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Cite as: TrendWatcher, "Exxon, Chevron Warn Oil Prices to Jump in Weeks", https://www.trendwatcher.in/article/2a425522-f9b6-4684-b666-99948eefdee4