Chevron CEO: Saudi attacks won't have much short-term impact on US oil production

Attacks on Saudi oil plants will not have much impact on US oil production in the short term and a potential full-scale war in the Middle East will “very likely” move oil prices higher, Chevron Chief Executive Michael Wirth told CNBC in an interview on Monday.

Wirth further added that he cannot speculate on how the recent attacks are likely to affect the initial public offering plans of State oil giant Saudi Aramco.