Shell To Keep Oil Output Flat Or Slightly Higher Into 2030; To Scrap Annual Oil Output Cut After Already Reaching Targeted Reduction
Portfolio Pulse from Charles Gross
Shell plans to maintain or slightly increase its oil output until 2030, scrapping its annual oil output cut after already achieving its targeted reduction, according to Reuters sources.
June 09, 2023 | 12:26 pm
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POSITIVE IMPACT
Shell's decision to maintain or slightly increase oil output until 2030 may positively impact its stock price in the short term.
Shell's decision to maintain or slightly increase oil output until 2030 indicates that the company is confident in its ability to meet demand and maintain profitability. This may lead to increased investor confidence and a positive impact on its stock price in the short term.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Shell's decision to maintain or slightly increase oil output until 2030 may have a positive impact on the United States Oil Fund (USO) ETF in the short term.
As Shell is a major player in the oil industry, its decision to maintain or slightly increase oil output until 2030 may signal a positive outlook for the industry as a whole. This could lead to increased investor confidence in the United States Oil Fund (USO) ETF, resulting in a positive impact on its price in the short term.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80