Shell cut its Q1 gas production forecast due to the conflict. However, it recorded a significant increase in oil trading profits, but faced a decline in short-term liquidity.
On Wednesday, Shell provided an early glimpse into the immediate impact of the US-Israel war with Iran on the profits of major oil companies, as it lowered its gas production forecast for the first quarter and pointed to a sharp increase in oil trading profits and a decline in short-term liquidity.
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