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 oil prices over the period.
The company highlighted the challenging market conditions as a key factor impacting its financial performance, reflecting broader trends in the energy sector.
**Why this matters**
Shell is one of the world’s largest oil companies, and its earnings are closely watched as an indicator of the health of the global oil market. A substantial decline in profits can signal ongoing volatility in energy prices, which may affect investment decisions and market stability.
Source: NewsData