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Shell boss confident oil price will double

11 Jan 2016

Shell boss, Ben van Beurden has explained that he is “very, very confident” oil price will bounce back in 2016.

As the company draws closer to its $51bn takeover of BG, it is still remaining optimistic about the current oil market. To ensure the financial feasibility of the acquisition agreement, Shell will need the price of crude oil to return to the $60 price point for it to be considered a quality deal.

“The oil prices we are seeing today are not sustainable and are going to settle at higher levels and higher in my mind, over the next few decades, than the low 60s we need that we require to make this a good deal,” said van Beurden.

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