<p>Royal Dutch Shell on Monday said it expects charges of up to $4.5 billion in the fourth quarter after a turbulent year for oil prices in the fallout from the <a href="https://www.deccanherald.com/coronavirus-live-news-covid-19-latest-updates.html" target="_blank">coronavirus</a> pandemic.</p>.<p>"Post-tax charges... between $3.5 to $4.5 billion in relation to impairments, asset restructuring and onerous contracts are expected in the fourth quarter," the Anglo-Dutch group said in a statement.</p>.<p>Shell will present full-year earnings in early 2021.</p>.<p>As Covid-19 slammed the brakes on the global economy, benchmark oil prices briefly turned negative in April -- before shooting back up to current levels of around $50 per barrel.</p>.<p>The market also crashed on the back of a vicious price war between key producers Saudi Arabia and Russia.</p>.<p>The resulting meltdown ravaged revenues and profits at oil majors, causing the likes of Shell and rival BP to slash thousands of jobs.</p>
<p>Royal Dutch Shell on Monday said it expects charges of up to $4.5 billion in the fourth quarter after a turbulent year for oil prices in the fallout from the <a href="https://www.deccanherald.com/coronavirus-live-news-covid-19-latest-updates.html" target="_blank">coronavirus</a> pandemic.</p>.<p>"Post-tax charges... between $3.5 to $4.5 billion in relation to impairments, asset restructuring and onerous contracts are expected in the fourth quarter," the Anglo-Dutch group said in a statement.</p>.<p>Shell will present full-year earnings in early 2021.</p>.<p>As Covid-19 slammed the brakes on the global economy, benchmark oil prices briefly turned negative in April -- before shooting back up to current levels of around $50 per barrel.</p>.<p>The market also crashed on the back of a vicious price war between key producers Saudi Arabia and Russia.</p>.<p>The resulting meltdown ravaged revenues and profits at oil majors, causing the likes of Shell and rival BP to slash thousands of jobs.</p>