Shell announced that its full-year underlying earnings fell by 22%, reaching $18.53 billion (£13.6 billion). The decrease is attributed to a significant drop in global oil prices over the period.
The company highlighted the challenging market conditions as a key factor impacting its financial performance. Despite the decline, Shell continues to focus on its long-term strategy and operational efficiency.
**Why this matters**
Shell’s earnings decline reflects broader volatility in the energy sector, influenced by fluctuating oil prices. As one of the world’s largest oil producers, Shell’s financial results can signal trends affecting global energy markets and investor confidence.
Source: NewsData