Shell believes that oil prices will fall more in the second half of this year

According to reports, on June 5, 2012, Peter, CEO of Royal Dutch Shell , Europe’s largest oil company. In an interview with reporters in Kuala Lumpur, Walther said that as global economic growth slows down and international tension eases will curb global oil demand, global oil prices will fall even more in the second half of this year.

As the weak economic data from the United States and China increased concerns about the growing crisis in the Eurozone, the price of Brent crude recently fell below US$100/bbl, which is the lowest price of Brent crude in the past 16 months.

Wasser pointed out: "As the demand in the Asia-Pacific region will slow down, therefore, global oil demand will continue to weaken. We have already obtained the elements of the European economic recession."

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