Shell (SHEL LN) CEO says oil market supply slightly long, balanced by geopolitical risk like Venezuela and Iran
The CEO of Shell's comments on the oil market being slightly long highlight the current supply dynamics while emphasizing the counterbalancing effects of geopolitical risks, particularly in Venezuela and Iran.
US envoy Kushner and Witkoff arrive in Doha ahead of tomorrow's Iran talks in Oman, Whitehouse official tells Al Jazeera
Newsquawk European Market Wrap - 5th February 2026
Shell (SHEL LN) CEO says oil market supply slightly long, balanced by geopolitical risk like Venezuela and Iran
Qatar sets March marine crude OSP at Oman/Dubai at USD -1.00/bbl and land crude OSP at Oman/Dubai at USD +0.80/bbl
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This suggests that while supply may be adequate, potential disruptions from these regions could create volatility, influencing oil prices and market sentiment in both the short and long term.
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