Investing.com - Oil markets are beginning to recover but the scale of global oversupply means prices may only rise slowly, the chief executive of Royal Dutch Shell (LONDON:RDSa) said on Tuesday.
"We see the first signs of recovery in oil prices," Ben van Beurden told an oil industry conference in London
"American shale so far has been much more resilient financially and technically than many expected," he said.
He added that many U.S. oil producers would struggle to refinance while prices remained low, leading to lower output in the future.