LONDON — Weak energy prices continue to take their toll, as profit dropped sharply at Europe’s largest oil company, Royal Dutch Shell.

Shell said on Wednesday that earnings for the first quarter fell 89 percent from the same period in 2015, to $484 million. At Shell, the pain was widespread, with many business areas experiencing a drop in profit and the critical oil and gas production group seeing outright losses.

It is part of the broad financial fallout from the troubles in the oil patch. Energy prices are off nearly 40 percent in the past year, although they have stabilized somewhat of late. And the industry’s players, big and small, are scrambling to limit the damage.