Soaring gas and oil prices driven by supply chain issues and the invasion of Ukraine have propelled the outperformance of Shell shares this year, but questions about the long-term prospects of the oil giant remain.
Europe's biggest oil company reported record profits in the first quarter of 2022, totalling $9.1bn - far higher than the $3.2bn reported in the same period of last year. Shell is forecast to make around $35bn of profits this year, up by $15bn from the previous year. In the stock markets, the landscape for Shell today looks very different than it did in 2020, when oil demand collapsed and drove shares to a 25-year low. In April of that year, the price of US oil dropped below $0 per barrel, meaning that oil producers were paying buyers to take it off their hands. RLAM slams Shell clim...
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