Shell's Q2 Earnings Fall Short of Expectations, Shares Plummet 3%

Shell's shares fell over 3% in London as the energy company reported disappointing quarterly results, updating its forecasts for Q2. The strategic integrated gas division is now targeting 900,000-940,000 barrels per day, down from 925,000 in Q1. LNG production is expected between 6.4-6.8 million tons, and the chemicals division anticipates an adjusted loss. RBC analysts noted that Shell's favorable momentum has stalled, weighing on results.