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Markets & Finance

Financial Review: Third-Quarter 2019

Release date: December 31, 2019
Next release date: May 2020

Key findings

  • Brent crude oil daily average prices were 18.2% lower in third-quarter 2019 than in third-quarter 2018 and averaged $62 per barrel.
  • Dividends plus net share repurchases equaled 24% of cash from operations, substantially lower than the six-year high of 33% set in first-quarter 2019.
  • Cash from operations in third-quarter 2019 was $128 billion, 12% lower than in third-quarter 2018.
  • Capital expenditures were $75 billion in third-quarter 2019, 9% lower than in third-quarter 2018.
  • The percentage of companies reporting positive upstream earnings declined from 88% in second-quarter 2019 to 78% in third-quarter 2019; the percentage of companies reporting positive cash flow increased marginally from 48% to 52%.

In third-quarter 2019, 52% of companies were free cash flow positive, and 78% of companies reported positive upstream earnings



















See entire third-quarter review