shell pushing it to the limit..., page-5

Looking at these 2 quotes is this a meagre attempt by the majors to deflate prices. With Shell only finding a lousy 900 mmboe this year, I'm sure demand moving forward will remain week, that is if we all go out & buy mopeds

Firstly

“Projects that have already been approved don’t really benefit from ongoing cost deflation,” Lauras said yesterday in an interview. “Companies are trying to benefit from cost deflation and therefore refraining from new final investment decisions right now to get the benefit of lower costs in the future.”

Followed by

Shell Chief Executive Officer Peter Voser said July 30 that “energy demand is weak,” echoing BP CEO Tony Hayward, who two days before said that his company sees “little evidence of any growth in demand.”

Seems to be a vested interest here!

China's growth above market expectations at near 9% last quarter. Oil forecast to hit $20 (never happened), now over $71, DJIA approaching 10,000 again

Fairdinkum. I reckon if this news release was a HC Post it would be moderated....IMHO

DYOR