Oil Companies Warn Global Conflicts Will Sustain High Fuel Prices

Major oil companies ExxonMobil and Chevron have issued a warning that high fuel prices are expected to endure, even if crude oil prices decline. They attribute this outlook to a critical global shortage in refining capacity, which has been worsened by ongoing conflicts in Russia and the Middle East. This forecast indicates continued elevated energy costs for consumers and industries, potentially impacting global economic stability and household budgets.