Axelrod's Oracle
S8/10Geopolitical

Chevron CEO Wirth on Oil Prices, Strait of Hormuz, Venezuela

Chevron Chairman & CEO Mike Wirth discusses the impact of the war in Iran on oil prices and global supplies, multiple attacks this week on vessels transiting the Strait of Hormuz, the company’s view on Venezuela, and potential oil and gasoline shortages. He speaks on “Bloomberg Surveillance.” (Source: Bloomberg)

29 May 2026, 13:12 UTCSource: Bloomberg Markets

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⚠️ This is a probabilistic forecast, not a guarantee. Accuracy is measured only on resolved scenarios; monitor confirmation indicators below.
A
Escalation— 73% model probability
Did not materialise

Confirmation indicators

  • ◆Reports of increased military activity near Iranian oil facilities, a significant escalation in sanctions imposed on Iran's energy sector, and international condemnation of Iranian actions.
Horizon: 10–20 days
B
Status quo— 20% model probability
Did not materialise

Confirmation indicators

  • ◆Reports of increased military activity near Iranian oil facilities, a significant escalation in sanctions imposed on Iran's energy sector, and international condemnation of Iranian actions.
Horizon: 10–20 days
C
De-escalation— 7% model probability
Did not materialise

Confirmation indicators

  • ◆Reports of increased military activity near Iranian oil facilities, a significant escalation in sanctions imposed on Iran's energy sector, and international condemnation of Iranian actions.
Horizon: 10–20 days