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Shell CEO Peter Voser gave a cautious view of…

Submitted by Editorial Team on February 5, 2010 – 10:51 amNo Comment

Shell CEO Peter Voser gave a cautious view of oil market fundamentals on 4 February, when announcing the company’s fourth quarter results. “My outlook for 2010 is not a rosy one,” he told reporters. “I think you will see demand being sluggish going into 2010. Oil inventories remain at high levels, and so the outlook for the 2010 oil price is uncertain, but it is likely that OPEC will be managing against a downside for some time. I’m very cautious about 2010. The stimulus packages will have some GDP growth impact still in 2010, but we see the environment rather weak in 2010. It will take longer, I think, than expected.”

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