Exxon warns oil inventories are weeks from record lows, threatening a price spike

An Exxon executive said physical Brent crude could hit $150 to $160 a barrel once stockpiles are exhausted

Ronaldo Schemidt / Contributor

ExxonMobil $XOM senior vice president Neil Chapman warned Thursday that global oil inventories are approaching record lows and that prices will spike sharply within weeks, according to CNBC.

Speaking at the Bernstein conference in New York, Chapman laid out a stark timeline. "We're approaching unheard of inventory levels," he said. "I mean really, really low levels. You can debate whether that's........

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