HOUSTON, March 23 (Reuters) - Chevron ( CVX ) CEO Mike Wirth

said he is uncertain how quickly shut-in production in the

Middle East stemming from the ongoing U.S.-Israel war with Iran

will return.

"It will take time to come out of this," Wirth said on

Monday at the CERAWeek conference in Houston. Tightness in the

energy market due to the closure of the Strait of Hormuz has not

been fully priced into forward oil prices, he said.

"We've seen tightness in distillate products like diesel and

jet (fuel) and in particular, Asia is facing some real concerns

about supply," Wirth said.

U.S. oil production, which has been forecast to plateau by

the end of the decade, could see a boost if higher crude prices

are sustained for a longer period due to the conflict, he said.

The comments come after Qatar said damage to its liquefied

natural gas facilities could wipe out 17% of its LNG capacity

and take close to five years to repair.