Oil prices might be down on Wednesday, but that situation could be short-lived, according to Chevron CEO Michael Wirth, who spoke at the CNBC Evolve Global Summitt on Wednesday. According to Wirth, the market is still tight, recession or no recession. “The tightness in supply hasn’t gone away,” Wirth said. “I think it’s great for the economy that prices have moderated, but I also see the risks remaining skewed towards the upside.” Oil prices slipped below $100 per barrel on Wednesday in volatile trade as the United States said that the CPI had risen by 9.1% over the last 12 months. In turn, this could lower the demand for gasoline and crude oil. According to Wirth, the United States is already seeing some demand destruction on the backs of higher oil prices. On Wednesday, fresh EIA figures suggested that implied gasoline demand in the United States had fallen by […]