Chevron CEO Warns US Diesel Export Ban Would Raise Domestic Prices, Strain Allies

Chevron Corp. CEO Mike Wirth warned on October 6, 2026, that a US ban on diesel exports could drive up prices in some parts of the country and signal unreliability to allied nations dependent on American fuel supplies. Speaking at the Energy Intelligence Forum in London, Wirth said such a move would send "a very bad signal" when the US has historically been a reliable supplier. The warning follows President Donald Trump's late-September decision not to impose diesel export curbs, reversing an earlier consideration, after G7 nations and partners agreed to release emergency fuel stockpiles to cool soaring prices. Wirth also said oil and gas demand will keep growing following the end of the Persian Gulf war, and that Chevron could join an Iraq-to-Mediterranean pipeline consortium. He noted the company is drilling more wells with fewer rigs amid technological advances.