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Chevron CEO: U.S. Economy Resilient Despite Growth Slump

4/23/2025

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Summary

Story summary

Chevron CEO Mike Wirth believes the U.S. is not nearing a recession, despite slowing growth indicators.
The International Monetary Fund has revised U.S. growth forecasts down to 1.8% amid trade tensions.
Oil prices have decreased by 11% since the announcement of tariffs, impacting demand expectations.
Wirth indicated onshore oil production could decline if prices fall to $60 per barrel, while offshore production remains stable.
Chevron anticipates minimal direct tariff impacts, concentrating on broader macroeconomic effects.

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Story summary

Chevron CEO Mike Wirth believes the U.S. is not nearing a recession, despite slowing growth indicators.
The International Monetary Fund has revised U.S. growth forecasts down to 1.8% amid trade tensions.
Oil prices have decreased by 11% since the announcement of tariffs, impacting demand expectations.
Wirth indicated onshore oil production could decline if prices fall to $60 per barrel, while offshore production remains stable.
Chevron anticipates minimal direct tariff impacts, concentrating on broader macroeconomic effects.