---
title: "Exxon and Chevron warn oil could hit $160 as stocks near record lows"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/288123337.md"
description: "Exxon and Chevron executives warn that oil prices could surge to $160 per barrel as global inventories near critical lows. This risk is exacerbated by the closure of the Strait of Hormuz, which has cut 20% of global supply. Analysts caution that such a spike could trigger severe economic contraction and stagflation, particularly impacting Asia and Europe."
datetime: "2026-05-29T23:09:06.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/288123337.md)
  - [en](https://longbridge.com/en/news/288123337.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/288123337.md)
---

# Exxon and Chevron warn oil could hit $160 as stocks near record lows

Why prices may spike: Executives say inventories are nearing levels where the oil system can't operate, risking a rapid surge to $160 per barrel. Conflict-driven shortages: The Strait of Hormuz closure has cut 20% of global supply, draining reserves and disrupting petrochemical and fuel markets worldwide. Economic risk ahead: Analysts warn a sustained spike could cause severe economic contraction, with Asia and Europe most vulnerable to stagflationary pressure.

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