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 challenging market conditions as a key factor affecting its profitability. Despite the decline, Shell continues to focus on its strategic priorities and operational efficiency.
**Why this matters**
Shell is one of the world’s largest oil producers, and its financial performance often reflects broader trends in the energy sector. A drop in earnings signals ongoing volatility in oil markets, which can impact global energy prices and investment decisions.
Source: NewsData