(MT Newswires) -- Chevron CEO Mike Wirth discusses the major issues facing the oil industry, with a focus on crew and vessel safety. He underlines the efforts made in collaboration with the maritime authorities to navigate safely in high-risk areas such as the Arabian Gulf and the Red Sea. Wirth is surprised by the resilience of oil prices in the face of escalating tensions in the Middle East, a stability he attributes in part to rising US oil production. He notes that, despite the potential to increase US production beyond 13 million barrels per day, budget restrictions and environmental regulations are moderating the pace of expansion.
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