Shell CEO sees first signs of oil price recovery
Business News | Tue Oct 6, 2015
Oil markets are beginning to recover but the scale of global oversupply means prices may rise only slowly, the chief executive of Royal Dutch Shell Plc (RDSa.L) said on Tuesday.
“I see the first mixed signs for recovery of oil prices,” Ben van Beurden told an oil industry conference in London.
“But with U.S. shale oil being more resilient than we originally thought and a lot of oil still in stock, it will take some more time to rebalance demand and supply,” he added.
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