Shell Is Almost Back to the Profits of the Oil Boom

Mony
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LONDON—Royal Dutch Shell PLC more than tripled its profit in 2017 on a rebound in crude-oil prices, demonstrating how deep cost cuts are making energy companies almost as profitable as they were during the boom years of $100 a barrel.

The British-Dutch oil giant said Thursday its 2017 profit on a current cost-of-supplies basis—a number similar to the net income that U.S. oil companies report—was $12.1 billion, its highest level since oil prices slumped in 2014. The company said it generated about as much cash last year, when…

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