“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,

By Marianna Parraga and Sheila Dang HOUSTON, March 23 (Reuters) - Chevron is seeing progress in Venezuela as its oil production in the OPEC country rises, but more work is needed to change key energy legislation and secure conditions for 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.

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.

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

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

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

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