Shell CEO: Signs of Oil Price Recovery Emerging

By Sarah Kent

LONDON--Signs of an oil price recovery are emerging but it will take time for the market to rebalance, Royal Dutch Shell PLC's (RDSA.LN) chief executive said Tuesday.

Speaking at the Oil & Money conference in London, Shell boss Ben van Beurden said falling costs, strong demand and weakness in the U.S. shale oil sector are positive indicators.

Still, he said headwinds remain for a recovery in prices. He pointed to lackluster global economic growth and uncertainty over the policy direction the Organization of the Petroleum Exporting Countries will take when it meets in Vienna in December.

"It remains uncertain how fast prices will recover and where they will settle," Mr. van Beurden said, warning that if the market remains under pressure too long oil prices could spike.

Write to Sarah Kent at sarah.kent@wsj.com

(END) Dow Jones Newswires

October 06, 2015 05:40 ET (09:40 GMT)

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