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Markets & Finance

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.

Cash from operations in third-quarter 2021 totaled $157 billion, the most for any quarter in the 2017–21 period

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