repsol-gas-stationSPANISH oil giant Repsol’s earnings are expected to fall 22% this year.

The international agency Fitch ratings said the firm has a negative outlook given that oil looks set to remain at around €31 a barrel this year.

Repsol, Royal Dutch Shell, France’s Total, Austria’s OMV,  Italy’s Eni, and Hungary’s MOL’s collective earnings fell by 34% last year.

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