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

Attacks on Saudi oil plants will not have much impact on U.S. oil production in the short term, Chevron Chief Executive Michael Wirth told CNBC in an interview on Monday.

He also said that a potential full scale war in the Middle East will "very likely" move oil prices higher.

Wirth 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.