Shell reported a 30% Q3 2024 drop in refining margins to $5.5/barrel due to global demand decrease, particularly in China.
Shell reported a nearly 30% drop in refining margins for Q3 2024, falling to $5.5 per barrel due to decreased global demand and economic slowdowns, particularly in China. Despite this, the company raised its LNG production forecast and improved its upstream oil and gas output outlook. Shell anticipates lower trading results in its chemicals and products division. Exxon Mobil also warned of reduced earnings from lower oil prices and refining margins.
October 07, 2024
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