Shell CEO Predicts Further Volatility, Higher Prices for Oil

Royal Dutch/Shell Chief Executive Jeroen van der Veer said further volatility in oil prices is expected in the year ahead, warning that the energy sector is not “shock proof” from world events.

Van der Veer told the Asia Oil and Gas Conference here that the world’s existing oil reserves had “hardly any capacity” and called for greater exploration of unconventional oil sources.

“In the world oil system there is hardly any spare capacity. That means that the whole system is not shock proof at this moment. If something happens the market will react,” he said in an opening address
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