Financial Review: Third-Quarter 2020
Release date: December 17, 2020
Next release date: May 2021
Key findings
- Brent crude oil daily average prices were 30% lower in third-quarter 2020 than in third-quarter 2019 and averaged $43 per barrel.
- The combined petroleum liquids production of this study’s 100 companies decreased 9.3% in third-quarter 2020 from third-quarter 2019, and their natural gas production decreased 7.9% during the same period.
- Upstream capital expenditures on a per-barrel basis declined to the lowest average level in the 2016–20 period in third-quarter 2020.
- Cash flow from operating activities increased from the first and second quarters of 2020 to $88 billion, but it remained 31% lower than third-quarter 2019.
