Chevron Ceo Mike Wirth prompts US consumer to be ready for gas hype this winter | The Countdown Nigeria
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Chevron Ceo Mike Wirth prompts US consumer to be ready for gas hype this winter



Chevron Chief Executive Officer Mike Wirth has reportedly urged US consumers to rapidly prepare for the gas hype coming up this winter rather than relaxing to fallen gas price at pumps and barrels. Report


Chevron chairman and CEO Mike Wirth said in an interview according to Cable News Network on Tuesday business report said that “there’s certainly a risk that costs will go up” for American consumers.

Wirth is not predicting a rise of the magnitude seen in Europe, where prices have skyrocketed, largely due to the impact of Russia limiting exports of natural gas. The energy situation in the United Kingdom and on the continent is far more dire.

“Prices already are very high relative to history and relative to the rest of the world. We’re already seeing this impact being felt in the European economy and I do think it’s likely that Europe goes into a recession,” Wirth said.

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The Oil prices which has reportedly rosed way up more than 15% so far this year. That has helped boost sales, revenues and the stock prices  of companies like Chevron.

Stakes and Shares of Chevron group of company  went up nearly 40% in 2022, making them the best performer in the American stock market this year. Rival Exxon Mobil  has soared almost 60%.


Chevron reported net income of $11.6 billion in the second quarter and analysts are forecasting that the company will post an annual profit of $36.2 billion.


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