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Markets & Finance

Financial Review: Second-Quarter 2020

Release date: September 23, 2020
Next release date: December 2020

Key findings

  • Brent crude oil daily average prices were 51% lower in second-quarter 2020 than in second-quarter 2019 and averaged $33 per barrel.
  • The combined petroleum liquids production of this study‚Äôs 102 companies decreased 4.9% in second-quarter 2020 from second-quarter 2019, and their natural gas production decreased 5.6% during the same period.
  • Companies increased short-term and long-term borrowing in the second quarter, increasing debt by $72 billion in the quarter.
  • Capital expenditures declined to $44 billion, the lowest for any quarter in the 2015–20 period.

Cash balances increased $34 billion year over year in second-quarter 2020 for the 10 largest capitalization companies but decreased $6 billion among all others

See entire second-quarter review