SHELL WARNS OF 1 BILLION-BARREL CRUDE SUPPLY GAP Shell says the global oil market is facing a growing supply shortage of nearly 1 billion b…
SHELL WARNS OF 1 BILLION-BARREL CRUDE SUPPLY GAP
Shell says the global oil market is facing a growing supply shortage of nearly 1 billion barrels, with the gap widening daily.
CEO Wael Sawan said tight supply is driving high prices and weakening refining margins, while CFO Sinead Gorman confirmed excess cash will be used for share buybacks.
The company also flagged early signs of demand destruction in jet fuel and rising strain on refining, though upstream and gas operations are expected to offset some pressure.
More from Walter Bloomberg
- Sat, 23 May 2026 20:32:39 GMTTRUMP SAYS IRAN AGREEMENT HAS BEEN LARGELY NEGOTIATED
- Sat, 23 May 2026 19:59:38 GMT*TRUMP'S CALL W/ MIDEAST LEADERS 'POSITIVE': FOX CITING DIPLOMAT
- Sat, 23 May 2026 18:28:33 GMTIRAN AND PAKISTAN HAVE SENT REVISED OFFER TO US TO TERMINATE CONFLICT, OPEN STRAIT OF HORMUZ, TWO PAKISTANI SOURCES AWARE OF NEGOTIATIONS S…
- Sat, 23 May 2026 18:27:33 GMTUS RESPONSE TO LATEST PROPOSAL EXPECTED BY SUNDAY, TWO PAKISTANI SOURCES AWARE OF NEGOTIATIONS SAY
- Sat, 23 May 2026 18:04:32 GMTTHE INTERIM DEAL TO END THE CONFLICT TAKES BOTH THE SIDES TO WHERE THEY WERE TOO CLOSE TO STRIKE A DEAL IN ISLAMABAD TALKS - PAKISTANI OFFI…
- Sat, 23 May 2026 17:08:29 GMTAN MOU IS BEING FINE TUNED TO END US-IRAN WAR - PAKISTANI SECURITY OFFICIAL
- Sat, 23 May 2026 16:29:27 GMTTRUMP TO HOLD A CALL ON SATURDAY WITH LEADERS FROM SAUDI ARABIA, QATAR, UAE, EGYPT, TURKEY AND PAKISTAN
- Sat, 23 May 2026 15:57:26 GMTRUSSIA IS PREPARING A STRIKE AGAINST UKRAINE USING "ORESHNIK" MISSILE, ZELENSKIY SAYS, CITING INTELLIGENCE FROM UKRAINE, U.S. AND EUROPE