SHELL CHIEF SAYS OIL PRICE HAS FURTHER TO FALL

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prices will weaken more in the second half of 2012 as demand reacts to the slowing global economy and international tensions ease, Royal Dutch Shell chief executive Peter Voser said yesterday. “Global demand is softening, we have got recessionary elements in Europe, a small slowdown in Asia Pacific,” he said. “At the same time some of the geopolitical elements of price volatility over the past few months have kind of receded.”