Reuters logo
Oil price fall due to lower demand, geopolitics-Shell
June 5, 2012 / 2:01 AM / 5 years ago

Oil price fall due to lower demand, geopolitics-Shell

KUALA LUMPUR, June 5 (Reuters) - Royal Dutch Shell said on Tuesday a drop in oil prices was due to lower demand and the reduced impact of geopolitical issues on the market.

“The softening of the oil price at the moment is a reflection of geopolitical issues being less dominant and lower demand coming into the picture,” CEO Peter Voser told reporters at the World Gas Conference.

Brent crude prices have fallen under $100 a barrel to a 16-month low as weak economic data from the United States and China added to ongoing worries about the euro zone crisis. (Reporting by Florence Tan and Simon Webb; Writing by Ed Davies; Editing by Michael Urquhart)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below