Shell cuts dividend for first time since WWII as oil crisis bites - Business Insider

the closer contracts moves towards expiry.

"Whilst BP chose to absorb a $6bn rise in net debt to $51bn and gearing above 36x in order to preserve its precious dividend, Shell seems to be taking a more prudent approach in cutting its dividend for the first time since the 1940s. "Our industry has been hit by supply and demand shocks on a scale never seen before," Bernard Looney, BP's CEO, Bank of America says an under-the-radar gauge of volatility is warning that the bear market is not over — and shares 2 cheap trades to protect against the next drop

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