Shell has announced a 22% decrease in its full-year underlying earnings, which fell to $18.53 billion (£13.6 billion). The decline is attributed to a significant drop in oil prices over the period.
The company highlighted that the challenging market conditions impacted its overall profitability, reflecting broader trends in the energy sector.
**Why this matters**
Shell’s earnings performance is a key indicator of the health of the global oil industry. A sustained drop in profits may influence investment decisions and could affect energy markets and related economic sectors.
Source: NewsData