Shell Expects Oil Rebound as Shale Fails to Fill Supply Gap
This article is for subscribers only.
Royal Dutch Shell Plc sees oil prices rising because supply from shale drilling in the U.S. won’t be enough to satisfy growing global demand.
The industry needs to find an extra 4 million barrels to 5 million barrels a day every year to meet demand and replace depleted fields, Shell Chief Financial Officer Simon Henry said in an interview on Tuesday.