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CERAWEEK-Chevron CEO says it will take time to recover from Middle East production declines

ReutersMar 23, 2026 2:43 PM

HOUSTON, March 23 (Reuters) - Chevron CEO Mike Wirth said he is uncertain how quickly shut-in production in the Middle East can come back amid the ongoing conflict in the region.

"'It will take time to come out of this," he said on Monday at the CERAWeek conference in Houston. He said that current oil prices could stimulate more U.S. production growth, depending on the length of the conflict. Tightness in the energy market due to closure of Strait of Hormuz has not been fully priced in to forward curve, he added.

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