Business

Shell nearly doubles quarterly profit year-on-year as refining margins soar to record high

CNBC·Oct 29, 2026 · 3:46 AM CT
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Readthrough summary

Shell nearly doubled its third-quarter adjusted earnings to $10.81 billion from $5.43 billion a year earlier, beating analyst expectations of $9.92 billion. Geopolitical turmoil pushed indicative refining margins to a record $42 per barrel, well above the previous high of $28.04, making it the oil major's strongest quarter since 2022.

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