Shell: Oil demand may never recover
Ben van Beurden, chief executive of Royal Dutch Shell, said that global oil demand may never return to the level before the coronavirus outbreak.
Van Burden told reporters after the company announced a sharp decline in profit in the second quarter: "If demand is to fully recover, it will take a long time."
Shell expects that by the end of 2020, aviation fuel consumption will return to 50% of its pre-crisis level. He also pointed out that the aviation industry is going downhill and will continue to be sluggish for some time to come.