The global economy may be slowing down, but sales of energy and industrial products do not indicate that growth will come to a halt, according to Chevron Chairman and CEO Michael Wirth.
Financial markets are under pressure this week following fresh signs of a slowing economy. On Tuesday, the IMF knocked down its forecast for global economic growth. A day earlier, China reported its weakest annual economic expansion in nearly three decades.
Wirth says the slowdown concerns him because small changes to oil demand can tip the oil market into oversupply or deficit, resulting in volatile oil prices. However, he doesn't see major problems yet.
"We're not seeing signs that we're hitting any kind of a wall. Things may have slowed down a little bit in certain parts of the world," he said in an interview at the World Economic Forum in Davos, Switzerland on Wednesday.
"We sell our products into a number of sectors that have historically been pretty good indicators of economic activity — so construction, mining, transports — we sell lubricants and lubricant additives into industrial applications," Wirth told CNBC's "Squawk Box."