Royal Dutch Shell PLC said Thursday it would curb its planned spending over the next three years by some $15 billion, freeze dividends at current levels and scale back shale investments to cope with weaker oil prices. Shell, the first of the four giant, integrated oil companies to announce quarterly results, posted an improved profit compared with the year-earlier quarter. But earnings were below some analysts’ forecasts, driving shares down nearly 5% in London trading. “The macro environment has moved against us,” Shell Chief Executive Ben van Beurden said during a Thursday news conference. He and Chief Financial Officer Simon Henry said Shell is cutting costs but continuing some big investments—including a potential $1 billion exploration project in Alaska’s Arctic this year. Shell forecasts rebounding oil prices in coming years, and […]