NEW YORK, Jan 6, 2026, 03:16 (EST) — Market closed
- Shell said it bought back about 1.5 million shares on Jan. 5 for cancellation under its ongoing repurchase programme.
- U.S.-listed Shell shares closed down 0.54% on Monday.
- Next catalysts: Shell’s Q4 quarterly update on Jan. 8, then Q4 results and interim dividend announcement on Feb. 5.
Shell Plc said it bought back about 1.5 million shares on Jan. 5 in London and Amsterdam, paying between £27.22 and £27.94 in London and €31.445 to €32.185 in Amsterdam. Its U.S.-listed shares (SHEL) closed down 0.54% at $75.03 on Monday.
The transaction keeps attention on shareholder returns as Shell heads into a quarterly update due on Jan. 8, ahead of its fourth-quarter results on Feb. 5, when it will also announce an interim dividend.
That timing matters because the oil tape has turned jumpy again, and the direction of crude prices still tends to drive near-term sentiment for integrated energy majors such as Shell.
Oil prices fell in early Asian trade on Tuesday on expectations of ample supply and the prospect of higher Venezuelan output following the U.S. capture of President Nicolas Maduro, Reuters reported. Brent was at $61.48 a barrel and U.S. West Texas Intermediate at $58.00 by 0735 GMT.
Shell’s current $3.5 billion buyback programme, announced in October, is designed to reduce the issued share capital by cancelling repurchased stock — shrinking the share count over time. Shell said it intends, subject to market conditions, to complete the programme before its Q4 2025 results, with maximum consideration split evenly between London and Netherlands contracts.
A Reuters survey published on Monday forecast Brent to average $61.27 a barrel in 2026 and U.S. crude $58.15, pointing to a market weighed down by supply growth. “Supply is expected to exceed demand, keeping prices under pressure through the year,” said Bridget Payne, head of energy forecasting at Oxford Economics. Reuters
Near-term positioning in energy stocks could hinge on U.S. inventory data this week. Analysts polled by Reuters estimated crude inventories rose by about 1.3 million barrels in the week to Jan. 2, ahead of the American Petroleum Institute report due Tuesday and the U.S. Energy Information Administration release on Wednesday.
U.S. energy shares outperformed on Monday as traders weighed the potential for shifts in Venezuelan oil policy, lifting some large-cap names. Chevron finished up 5%, while Exxon Mobil and ConocoPhillips each added more than 2%, Reuters reported.
Technically, Shell’s ADR has traded in a $58.55 to $77.47 range over the past 52 weeks, leaving the stock nearer the upper end of that band heading into Tuesday’s session.
But the buyback does not insulate the shares from the commodity cycle. If crude stays pressured by oversupply or if expectations for more Venezuelan barrels firm, investors may refocus on how sensitive Shell’s cash generation is to oil and gas prices.
