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Shell Says Its Oil Production Has Peaked and Is Likely to Decline



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Royal Dutch Shell on Thursday made the boldest statement among its peers about the waning of the oil age, saying its production reached a high in 2019 and is now likely to gradually decline.Shell’s “total oil production peaked in 2019” and will now drop 1 or 2 percent annually, the company said in a statement.The announcement, part of the small print of a presentation about future clean-energy goals, is a turning point for one of the world’s leading oil firms, one dating back to the 19th century. And it underscores a talking point that the company’s chief executive, Ben …

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