High oil prices lift Shell’s earnings

LONDON (Reuters) — Oil giant Royal Dutch Shell PLC beat forecasts Thursday with a 36 percent rise in second-quarter profit, boosting its shares, as high oil prices more than compensated for disappointing production news…

If prices are above $50, Shell will receive even less oil under its production contracts with some resource holding governments, and so output could be under 3.4 million boepd.
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