Chevron’s Sable Offshore Deal Adds West Coast Supply And Risk Considerations

Chevron (NYSE:CVX) has agreed to a crude offtake deal with Sable Offshore tied to Santa Barbara platforms off the California coast. The agreement focuses on securing additional U.S. West Coast crude supply at a time of ongoing global supply disruptions. This move adds a new domestic feedstock source for Chevron while physical oil markets remain tight. For readers tracking Chevron, the deal lands at a time when the stock trades around $206.79 and has recorded a 32.6% return year to date...