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Bloomberg: Shell CEO Says Pandemic May Change the Oil Business Forever

By Anna Edwards and Laura Hurst: 30 April 2020, 09:35 BST: Updated on 30 April 2020, 11:56 BST

  • Consumer behavior will likely ‘be altered for some time’: CEO
  • Oil demand, prices probably won’t recover in the ‘medium term’

Europe’s largest oil company is bracing for permanent change in customer behavior, signaling demand may not fully recover once the coronavirus pandemic is over.

The global spread of the virus has roiled oil markets, dragging down profits at some of the biggest producers and promising worse to come next quarter. But the long-term impact on the way consumers work and travel could be even more devastating for the industry.

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