Chevron CEO Mike Wirth warned Wednesday against a diesel export ban, calling it “unwise” and saying the policy risks worsening the supply situation. The United States has been a reliable supplier to the world, he told CNBC, adding that creating doubt about American reliability would be counterproductive. Rising Middle East crude exports and a G7 emergency reserve release have helped ease supply concerns, though markets remain on edge due to disruptions in the Strait of Hormuz, which handles around 20% of global oil and LNG. Aramco CEO Amin Nasser said it could take up to two years to rebuild global oil inventories.
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