Shell refineries forecast to make double the profit from every barrel of fuel

Shell's refineries are forecast to make almost double the profit from every barrel of fuel produced due to record prices caused by global shortages. This is because many refineries have shut down in the Middle East and Russia, leading to a shortage of fuel worldwide. As a result, the prices of fuel have skyrocketed, allowing Shell's refineries to charge more for each barrel. This significant increase in profit margins, to $42 a barrel, is a substantial gain compared to the previous high of around $28 in mid-2022.

Why it matters

Shell's refineries are forecast to make double the profit from every barrel of fuel due to record prices caused by global shortages. This increase in profit is expected to have a positive impact on Shell's stock and the energy sector as a whole.

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