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Oil demand may never recover from COVID-19 crisis, says Shell CEO

FILE PHOTO: Royal Dutch Shell CEO van Beurden at the St. Petersburg International Economic Forum
FILE PHOTO: Royal Dutch Shell CEO van Beurden at the St. Petersburg International Economic Forum

LONDON (Reuters) - Global oil demand might never return to levels seen before the outbreak of the COVID-19 epidemic, Royal Dutch Shell CEO Ben van Beurden said on Thursday.

"Demand will take a long time to recover if it recovers at all," van Beurden told reporters after the Anglo-Dutch energy company reported a sharp drop in second-quarter profit.

Shell expects aviation fuel consumption to recover to 50% of pre-crisis levels by the end of 2020, he said.

"The aviation sector is down and will remain down for some time to come."


(Reporting by Ron Bousso; editing by Jason Neely)