According to foreign media reports on June 3rd, Royal Dutch Shell CEO Vandeville said on June 2 that he believes there is no shortage of oil supply in the current market. Vandeville’s remarks repeated the Organization of Petroleum Exporting Countries ( OPEC) Many oil ministers said that the world market has ample oil supply.
Oil prices have risen fourfold since 2004, and oil prices have also risen by one-third so far this year. Part of the reason for the rise in oil prices is that investors are increasingly concerned that oil-producing countries will not be able to produce enough oil in the next 10 years to meet market demand.
Vandeville made the above remarks to media reporters when he introduced the Shell Asian Business Plan in Kuala Lumpur, Malaysia. He said: "There is no shortage of supply in the world market. We don't have tankers waiting for crude oil in the Middle East, and we don't have people line up to buy gasoline."
Van de Ville said that from an inventory point of view, the entire value chain is operating normally, and rising oil prices have a lot to do with psychological factors.
Crude oil prices reached a record high of US$135.09 per barrel last month before falling to 126 US dollars per barrel on June 2.
Oil prices have risen fourfold since 2004, and oil prices have also risen by one-third so far this year. Part of the reason for the rise in oil prices is that investors are increasingly concerned that oil-producing countries will not be able to produce enough oil in the next 10 years to meet market demand.
Vandeville made the above remarks to media reporters when he introduced the Shell Asian Business Plan in Kuala Lumpur, Malaysia. He said: "There is no shortage of supply in the world market. We don't have tankers waiting for crude oil in the Middle East, and we don't have people line up to buy gasoline."
Van de Ville said that from an inventory point of view, the entire value chain is operating normally, and rising oil prices have a lot to do with psychological factors.
Crude oil prices reached a record high of US$135.09 per barrel last month before falling to 126 US dollars per barrel on June 2.
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