In September last year, Royal Dutch Shell chief executive, Ben van Beurden told the BBC that the price of oil is hard to foresee. He said, “It is a very, very volatile business in terms of supply and demand. The oil price responds to very small mismatches between supply and demand,” and when asked where oil prices might go next, Ben van Beurden replied, “The honest answer to that is I don’t know.” “I don’t know,” isn’t the best answer from the CEO of one of the world’s largest oil majors to give when asked what the price of oil is going…
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