Physical Oil Shortages Are Beginning to Appear, Says Chevron Boss

Chevron CEO Michael Wirth speaks during an interview on CNBC. Brendan McDermid/ReutersChevron CEO Michael Wirth said on May 4 that ​physical shortages in oil supply would begin appearing around ‌the world because of the closure of the Strait of Hormuz.“We will start to ​see physical shortages,” Wirth said during ⁠a discussion sponsored by the Milken Institute.