OIL GIANT SHELL POSTS LARGER-THAN-EXPECTED DROP IN FULL-YEAR PROFIT ON LOWER CRUDE PRICES
Shell, a big oil company, made less profit in 2024 because crude oil prices were lower.
Its profit for the whole year was $23.72 billion, down from $28.25 billion in 2023.
Experts thought Shell would make $24.71 billion, but it made less than expected.
In the last three months of 2024, Shell earned $3.66 billion, which was also lower than expected.
Shell will buy back $3.5 billion worth of shares in the next three months.
