US private-equity investors are pushing shale growth and this has “spooked the oil markets” into thinking incorrectly that oil inventories will remain high, says Schlumberger chief executive Paal Kibsgaard.
This perception, created by US investors chasing short-term gains, is actually preventing the markets recovering and the oil price from rising, he says.
Kibsgaard expects “clear reductions” in the global oil inventories from the second quarter, which will inject positive market sentiment.
