ICYMI - Chevron’s CEO sees oil prices getting “close” to reaching the $100-a-barrel level

Chevron CEO Mike Wirth spoke in an interview on Bloomberg TV. He outlined his reasoning for expecting even higher prices:

• “Supply is tightening, inventories are drawing ... the trends would suggest, we are certainly on our way, we are getting close (to $100/bbl),”
• he sees some impact from higher oil prices on the U.S. and global economy, but underlying drivers remain healthy. “It’s a drag on the economy, but one that thus far the economy has been able to tolerate.”

Greg had the headline comment earlier.

I noted earlier some similar comments from analysts at Citigroup:

• Citi says oil could briefly touch $100/bbl, but even $90 is not sustainable

And, this on the demand side, especially in China and the rest of Asia:

• BoA on oil: OPEC+ cuts, Asia demand - "Brent prices could spike past $100/bbl"

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Chevron is the No. 2 U.S. energy producer.