LONDON, Oct 6 (Reuters) - Oil markets are beginning torecover but the scale of global oversupply means prices may onlyrise slowly, the chief executive of Royal Dutch Shell Plc said on Tuesday.
"We see the first signs of recovery in oil prices," Ben vanBeurden told an oil industry conference in London
"American shale so far has been much more resilientfinancially and technically than many expected," he said. "Withshale oil being more resilient than we thought it will take sometime for prices to recover."
He said many U.S. oil producers would struggle to refinancewhile prices remained low, leading to lower output in thefuture: "Producers are now looking for new cash to survive andthey will probably struggle to get it." (Reporting by Ron Bousso; Editing by Christopher Johnson)