Royal Dutch Shell Plc  .com Rotating Header Image

Oil prices down by almost 50%

Screen Shot 2015-01-02 at 23.58.26

From an article published by Bloomberg News Friday 2 Jan 2015

Oil dropped to the lowest in more than five and a half years amid growing supply from Russia and Iraq and signs of manufacturing weakness in Europe and China.

Oil output in Russia and Iraq surged to the highest levels in decades in December, according to data from both countries’ governments.

Prices slumped 46 percent in New York in 2014, the steepest drop in six years and second-worst since trading began in 1983…

The European oil fell 48 percent last year, the second-biggest annual loss on record behind a 51 percent tumble in the 2008 financial crisis.

FULL ARTICLE

RELATED NASDAQ ARTICLE – ROYAL DUTCH SHELL DOWNGRADED

On Dec 31, Zacks Investment Research downgraded the integrated energy giant, Royal Dutch Shell plc.

With a tumble in crude oil price – which fell over 50% since Jun 2014 – revenues, cash flows and earnings are likely to be negatively impacted.

In this weakly priced market, Shell may find it difficult to maintain its lofty capital spending and dividend payments. 

Moreover, the company is strategically selling its non-core assets. Though this is likely to be favorable in the long term, lost reserves and production would hamper earnings in the near term.

FULL NASDAQ ARTICLE

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

0 Comments on “Oil prices down by almost 50%”

Leave a Comment

%d bloggers like this: