Shell has announced a 22% decrease in its full-year underlying earnings, which fell to $18.53 billion (£13.6 billion). The decline comes amid a significant drop in global oil prices over the period.
The company attributed the lower profits to challenging market conditions, including reduced demand and price volatility in the energy sector.
**Why this matters**
Shell is one of the world’s largest oil producers, and its financial performance is closely watched as an indicator of the broader energy market health. The earnings drop reflects ongoing pressures in the oil industry, which can impact investment decisions and energy prices worldwide.
Source: NewsData