*Walter Bloomberg(@DeItaone):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.

2026.05.07 14:30

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.

678

142

Forward to community

Most Popular Users