Financial Review: First-Quarter 2021
Release date: July 15, 2021
Next release date: September 2021
Key findings
- Brent crude oil daily average prices were 21% higher in 1Q21 than in 1Q20 and averaged $61 per barrel.
- In this study of 91 companies, the combined petroleum liquids production decreased 11.4% in 1Q21 from 1Q20, and natural gas production decreased 4.2% during the same period.
- Several acquisitions and company dissolutions in 2020 reduced the total number of companies in this study from 100 in 3Q20 (the latest quarterly analysis published) to 91 in 1Q21.
- Capital expenditure in 1Q21 was $48 billion, 28% lower than in 1Q20 and the second lowest amount for any quarter since 2016.
