Financial Review: Third-Quarter 2021
Release date: December 29, 2021
Next release date: March 2022
Key findings
- Brent crude oil daily average prices were 69% higher in 3Q21 than in 3Q20 and averaged $73 per barrel.
- In this study of 87 companies, the combined petroleum liquids production level increased 1% in 3Q21 from 3Q20, and natural gas production increased 4% during the same period.
- Cash from operations in 3Q21 totaled $157 billion, the highest for any quarter in the 2017–21 period, primarily as a result of higher oil prices.
- Net losses from hedging derivatives were $11 billion in 3Q21, totaling almost $30 billion in the first three quarters of 2021.
