Oil prices should reach a long-term equilibrium of $US90 per barrel, Royal Dutch Shell’s Chief Executive Ben van Beurden told a conference call on Thursday.
He said it was impossible to predict when prices would return to those levels and said oil prices were poised to remain volatile in the mid-term.
More from Reuters:
- U.S. Jobless Claims Approach 15-year Low
- Alibaba Says SAIC Report Flawed, Preparing Formal Complaint
- Azerbaijan Says It Shot Down Armenian Drone: Yereven Denies Report
- Philippines, Vietnam Upgrade Ties In Show Of Unity Against China
- U.S. Prepared To Drop Insider Trading Charges Over IBM Deal: Filing
NOW WATCH: Money & Markets videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.