Amid all of the talk and conjecture of where global oil prices are heading, Shell CEO Martin van Beurden said yesterday that $80 per barrel is not an unreasonable price. When asked in a CNBC interview if he agreed with a statement from the OPEC-meeting this past weekend that the oil market is well supplied, van Beurden said “the market was a little bit tight in general, if you compare that to where we were a few years ago, the market has been tightening up.” “Of course the market is well supplied, but not running out of oil at this point in time but it’s also fair to say that first of all volumes in storage have come down as spare capacity has been lower than it has been before so I think there is a bit of tightness coming in the market and you see that reflected in […]