Fuel Shortages Could Hit Europe by Next Month, Shell CEO Says

Wael Sawan said that the oil giant is trying to ‘work with governments to alert them to the levers they may need to pull’ including ‘demand‑side measures.’

Shell CEO Wael Sawan speaks at the panel dicscussion during the Abu Dhabi International Petroleum Exhibition and Conference held at ADNEC Exhibition Center on Oct. 2, 2023. Ryan Lim/AFP via Getty Images

Shell CEO Wael Sawan said on March 24 that a fuel crunch already hitting parts of Asia could spread to Europe as early as next month amid continued disruption from the Middle East conflict.

Speaking at CERAWeek by S&P Global, a major energy conference in Houston, Sawan said European governments may need to curb energy demand to prevent shortages, according to the UK newspaper The Telegraph.