Chevron flies to Midland the week CEO warns of oil shortages

Chevron's Boeing Business Jet, tail N884GL, flew from Cavern City Air Terminal to Midland International Air and Space Port on Tuesday evening, a 32-minute hop that arrived at 21:35 UTC. The trip comes the same week Chevron CEO Mike Wirth warned that physical oil shortages are beginning to appear, with global stocks at an eight-year low and the Strait of Hormuz still disrupted, per remarks he gave at a conference sponsored by the Milken Institute and covered by *The Motley Fool*. Wirth said economies would have to slow as demand adjusts to reduced supply.

The aircraft had flown from Houston to Carlsbad, New Mexico — a short flight from Midland — earlier on Tuesday, and the pattern over the past week shows near-daily shuttles between Chevron's Houston headquarters and the Permian Basin. The region is Chevron's most important oil-producing area; the company is now producing a record 1 million barrels of oil-equivalent per day there, per its own May update. These flights are the physical logistics of managing that production as the CEO publicly warns of a supply crunch.

Wirth said at the company's first-quarter earnings call on May 1 that Chevron is prioritizing low-cost, long-life assets as the Middle East crisis reshapes global energy markets, reported by S&P Global. The Permian Basin fits that description. The fleet movements suggest senior leadership is on site in West Texas this week, managing the company's response to a supply environment Wirth himself described as "potentially as big as in the 1970s."