Shell scores high against backdrop of lower oil & gas prices while ConocoPhillips’ earnings take a hit

Two more oil majors – Shell and ConocoPhillips – have joined their peers in posting results for the first quarter of 2023 that were hampered by the downward trend and volatility, which has befallen the oil and gas prices after the elevated levels observed last year during the heights of the global energy crisis. While the UK-headquartered giant still managed to tuck significant profit under its belt, the U.S.-based player appears to have been less fortunate in getting to grips with the downturn, as its earnings reflect a bigger impact.