Shell posts $6.2bn profit as oil prices rise again

Shell has recorded strong profits again, helped by oil prices rising again. 

The oil and gas giant reported earnings of £5.1 billion ($6.2bn) between July and September, up sharply on the previous quarter. 

Profits were down from $9.4bn in the same period last year, however, when Russia’s invasion of Ukraine caused a spike in oil and gas prices.

Oil prices are currently lower than that period, but have risen recently. 

That is largely due to members of the Opec+ group of oil-producing nations cutting output to support the market.