Shell CFO Sees Oil Industry Cost Inflation

Royal Dutch Shell Chief Financial Officer Jessica Uhl said on Wednesday wages and services costs in the oil and gas industry around the world have started rising following a deep downturn since 2014.

"We are seeing wage inflation and inflation effecting the supply chain and we are actively managing it," Uhl told reporters in a conference call following the company's third quarter results.

"It is certainly getting a bit tougher than it was a year or two ago."

Service costs around the world plunged following the 2014 oil price crash and have been slow to recover despite crude prices surging to four-year high last month.

(Reporting by Ron Bousso Editing by Edmund Blair)