Shell CEO van Beurden: there is more upside than downside for crude oil prices. Van Beurden sees ongoing tightness in crude oil supply. TotalEnergies CEO Pouyanne also stated that he saw room for demand to go higher with limited room for production growth. As oil companies begin to report their impressive Q2 results on the back of high oil prices, they are also offering premonitions of even higher oil prices on the back of the tight supply situation. Shell’s Chief Executive Officer Ben van Beurden told Bloomberg TV on Thursday that there is more upside than downside for crude oil prices. “Demand hasn’t fully recovered yet and supply is definitely tight.” Van Beurden added that he sees little room for more oil production from OPEC or U.S. shale producers—and the world oil supply could be even further curtailed as the full impact of Russia sanctions goes into effect later […]