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Shell, the British oil giant, reported adjusted earnings of $28.25 billion for the full-year 2023, beating expectations. They also announced a $3.5 billion share buyback program. In the final quarter of 2023, Shell posted adjusted earnings of $7.31 billion. The company cited impairment charges of up to $4.5 billion for the last three months of the year. Shell’s stock has decreased by around 4.8% year-to-date. Oil prices were slightly higher, with Brent crude futures trading at $80.6 per barrel and U.S. West Texas Intermediate futures trading at $75.92 per barrel.

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