Shell’s Oil Reserves Have Dropped To Lowest Levels Since 2013

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Why This Matters

Shell's oil reserves have dropped to their lowest levels since 2013, posing a risk of production shortfall within the next decade, and potentially requiring an exploration breakthrough or merger to mitigate this issue.

Market Impact

Market impact analysis based on bearish sentiment with 90% confidence.

Sentiment
Bearish
AI Confidence
90%
Time Horizon
Short Term

Article Context

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British Oil and Gas giant Shell Plc. (NYSE:SHEL) needs an exploration breakthrough or a big merger after its oil reserves fell to the lowest levels since 2013, exposing the company to a production shortfall in less than a decade. Shell's so-called 'reserve life'--denoting how long its proven reserves can sustain production at current levels– has dropped to less than 8 years, significantly lower compared with Exxon (NYSE:XOM) and TotalEnergies (NYSE:TTE), each with reserve lives exceeding 12 years. Shell is now facing a production shortfall…

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Original article published by OilPrice.com on February 10, 2026.
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