Royal Dutch 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 that the challenging market conditions impacted its overall profitability, reflecting the broader downturn in the energy sector.
**Why this matters**
Shell is one of the world’s largest oil companies, and its financial performance is often seen as an indicator of the health of the energy industry. A decline in earnings can affect investment decisions, shareholder returns, and the company’s ability to fund future projects. Additionally, lower profits may influence global energy markets and economic forecasts.
Source: NewsData