London (CNN Business) Royal Dutch Shell is writing down the value of its assets by as much as $22 billion as lower oil prices push the Anglo-Dutch company to accelerate a shift away from fossil fuels. Shell RDSA slashed its outlook for energy prices Tuesday, saying in a statement that it expects Brent crude to cost $40 per barrel in 2021 and $50 per barrel in 2022. Prices are forecast to rise to $60 per barrel in 2023. Brent crude futures hit their lowest level in decades in April, falling below $20 per barrel. They've staged a comeback to trade above $41 per barrel, but that's still well below where prices started the year.

Source: CNN June 30, 2020 08:37 UTC