July 16, 2020 / 1:00 PM / 23 days ago

Global recovery unlikely to be v-shaped, says Shell CEO

LONDON, July 16 (Reuters) - The global economy will not see a v-shaped recovery in the wake of the coronavirus epidemic, which will curtail oil and gas demand for years, the Royal Dutch Shell chief executive said.

Ben van Beurden told an online interview with IHS Markit Chairman Dan Yergin that it was too early to know if demand for oil had peaked.

“Energy demand, and certainty mobility demand, will be lower even when this crisis is more or less behind us. Will it mean that it will never recover? It is probably too early to say, but it will have a permanent knock for years,” he said.

Reporting by Ron Bousso; Editing by Edmund Blair

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