“Physical supply changes don’t respond immediately,” said Wirth. “Even when strait reopens at some point, it will take time.”

Chevron boosted oil production in Venezuela early this year, but big investments in the country’s beleaguered oil sector will require more changes in its laws, Chevron CEO Mike Wirth says. Venezuela earlier this year rewrote key hydrocarbon laws to favor private investment,

Iran tensions and higher oil prices are putting Exxon Mobil and Chevron in focus, but only one looks like the stronger dividend stock today.

These top oil stocks don't need high oil prices to thrive.

The world’s physical markets for oil and fuel are tighter than financial investors in energy futures realize, Chevron CEO Mike Wirth said, signaling that prices could rise further as long as the Strait of Hormuz remains closed.

Chevron has been fined $1.5 million for last year's oil well blowout in Northern Colorado.

Chevron’s updated fair value estimate now sits at US$192.29 per share, compared with the previous US$185.92, providing a fresh reference point for where some valuation models currently land. That shift is emerging alongside both bullish and bearish analyst views that depend on oil price assumptions,

With energy prices elevated right now, oil dividend stocks, for example, represent excellent choices. Those committed to digging through the oil patch for a passive income investment don't need to look much further than these oil dividend stocks that two Fool.

Mike Wirth said it will take some time to rebuild inventories and supply chains after the Strait of Hormuz fully opens.

Relief is ripping through financial markets Monday after President Donald Trump said the United States has talked with Iran about a possible end to their war. Oil prices are easing, and stock prices are jumping on Wall Street following severe losses elsewhere in the world before Trump’s announcement.

Chevron is working on a deal to add even more fuel to its growth engine.