Shell And TotalEnergies See Risk Of Higher Oil Prices

As oil companies begin to report their impressive Q2 results on the back of high oil prices, they are also offering premonitions of even higher oil prices on the back of the tight supply situation. Shell’s Chief Executive Officer Ben van Beurden told Bloomberg TV on Thursday that there is more upside than downside for crude oil prices. “Demand hasn’t fully recovered yet and supply is definitely tight.” Van Beurden added that he sees little room for more oil production from OPEC or U.S. shale producers—and the world…