Bloomberg has been accused on the website of publishing materially inaccurate forecasts indicating that Shell will overtake BP as Britain’s biggest oil producer.

The Bloomberg article was picked by many other publishers including the Daily Telegraph and the London Evening Standard who quoted Peter Heijen, an analyst at Dutch broker Theodoor Gilissen Bankiers, as advising clients to buy Shell shares based on the forecasts.

Oil production is one of the most important factors in the value of an oil company.

If the forecasts are incorrect, some investors may have been misled into purchasing Royal Dutch Shell shares.

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