Shell reported a 22% decrease in its full-year underlying earnings, which fell to $18.53 billion (£13.6 billion). The company attributed the decline to a significant drop in oil prices over the period.
This reduction in profits reflects the challenging market conditions faced by the oil industry, as global supply and demand dynamics continue to shift.
**Why this matters**
The drop in Shell’s earnings highlights the sensitivity of major oil companies to fluctuations in commodity prices. This can impact investment decisions, shareholder returns, and the broader energy sector’s financial stability.
Source: NewsData