Another Oil Major Beats Expectations Despite Poor Profits

Shell became the latest Big Oil major to report weaker third-quarter profits as low crude oil and gas prices dented its net result. However, the Anglo-Dutch company managed to beat analyst expectations on the back of strong income from oil and LNG trading. Shell reported net earnings of $4.676 billion for the third quarter, down 15 percent on the year but up on the second quarter of 2019. Its net result for the first nine months of 2019 was 14 percent lower than the respective period of 2018, once again highlighting the difficult price situation…