Chevron CEO Warns Oil Market on Brink of Price Volatility

Chevron CEO Michael Wirth has sounded the alarm on the oil market, warning that it is quickly losing buffers that kept prices in check. Speaking to the media, Wirth stated that the oil market is losing its 'buffers' that had helped maintain stable prices.

The warning comes at a time when oil prices are under pressure due to a combination of factors including oversupply and weak demand.

Chevron is one of the largest energy companies in the world, and Wirth's comments carry significant weight in the industry. As the CEO of a major player, his views on the market are closely watched by investors and analysts.