Shell announced that its underlying earnings for the full year fell by 22%, reaching $18.53 billion (£13.6 billion). The decrease reflects the impact of a significant drop in global oil prices.
The company attributed the earnings decline to challenging market conditions, including lower demand and price volatility in the energy sector.
**Why this matters**
Shell is one of the world’s largest oil and gas companies, and its financial performance is closely watched as an indicator of the broader energy market. The decline in profits highlights ongoing pressures faced by the industry amid fluctuating oil prices and changing global energy dynamics.
Source: NewsData