LONDON, Feb 12 (Reuters) - The head of Royal Dutch Shell expects global oil supplies to fall behind demandgrowth as the recent halving of crude prices forces productioncuts.
In excerpts from a speech Shell Chief Executive Ben vanBeurden is to give at the International Petroleum Week dinner onThursday evening, he said he expected oil prices to remainvolatile in 2015.
"Seeing today's prices, supply will probably not keep pacewith this growth. It may even decline, as prices are close tocash costs, according to consultants like Wood Mackenzie," vanBeurden is expected to say.
"As a result, energy companies could shut down some of theirexisting production.
"Either way: The market will remain volatile in 2015, ifonly because for now, OPEC shows no sign of wanting to resumeits role as swing supplier," van Beurden said.
(Reporting by Ron Bousso. Editing by Jane Merriman)