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Exxon Warns of Dangerously Low Oil Inventories, Price Spike

Exxon has warned that global oil inventories are set to reach dangerously low levels in the coming weeks, which could force Brent oil prices to spike to $150-$160 per barrel. An executive stated that physical Brent oil cargoes would see a significant price increase.

28 May, 22:25 — 28 May, 22:25
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cnbcMostly Factual6d ago

Exxon warns oil inventories will hit dangerously low levels in weeks, forcing prices to shoot higher

The price of physical Brent oil cargoes will spike to $150 to $160 per barrel once inventories hit all-time lows, Exxon executive Neil Chapman said.

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