Shell says first-quarter impact of coronavirus and oil price war mostly reflected in March


Royal Dutch

RDS.A, +4.34%

RDSA, +7.08%

said the impact of COVID-19 and the OPEC war was “primarily reflected in March with a relatively minor impact in the first two months.” production is expected to be between 2,650 and 2,720 thousand barrels of oil equivalent per day in the first quarter. Ahead of its first-quarter results, Shell said it still estimates that every $10 per barrel change in the of Brent has a $6 billion per annum impact on from operations, but that “this sensitivity is indicative and is most applicable to smaller changes than we currently witness as well as in relation to the full-year results.” Shell said it signed a new $12 billion facility on top of its existing $10 billion facility, and it has another $20 billion in or equivalents.



Please enter your comment!
Please enter your name here