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Chevron CEO Michael Wirth told CNBC on Thursday that oil prices may not reach $100 for a “long time” thanks to the boom in U.S. shale production.
“Oil markets have really changed over the last decade or so,” Wirth said on “Squawk Box” from the World Economic Forum in Davos, Switzerland. “We’ve moved from a period of time where there was a belief we were approaching peak oil, and now we’re in an era of abundance.”
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