Royal Dutch Shell had said every $10 cut to the price of a barrel of Brent crude could cause a $6 billion hit to its cashflowRoyal Dutch Shell is bracing for a hit of up to $800 million in the first quarter after cutting its assumptions for oil prices this year. The Anglo-Dutch energy group yesterday sought to reassure investors about its financial strength amid the unprecedented oil price rout, saying that it had secured an extra $12 billion loan facility. However, it also suggested that the impact of the plunge in prices could be even greater than its guidance of a $6 billion blow to its cashflow for every $10 cut to the price of a barrel of Brent crude. It said that although this guidance still stood, it was “most applicable to smaller price changes than we currently witness”. Brent crude has fallen by more than $40 a

Source: The Times March 31, 2020 11:03 UTC