OIL and gas giant Shell has posted strong profits helped by oil prices rising again. The energy giant reported earnings of US$6,2 billion between July and September, up sharply on the previous quarter.
Profits were down from US$9,4 billion in the same period last year, however, when Russia’s invasion of Ukraine caused a spike in oil and gas prices. Oil prices are currently lower than that period, but have risen recently. That is largely due to members of the Opec+ group of oil-producing nations cutting output. BBC