Top Energy Executive Warns of Critical Oil Inventory Tightness and Imminent Price Spike

ExxonMobil’s senior vice president has warned that oil inventory tightness will reach critical levels within weeks, setting the stage for a sharp price surge unless physical supply rebounds soon.

Neil Chapman, the company’s senior vice president, told a Bernstein investor conference that markets sit only weeks away from rarely seen stockpile levels. He projected Brent crude could spike to $150…