Financial Review: 2018
Release date: May 30, 2019
Next release date: July 2019
Key findings
- Brent crude oil daily average prices were $71.69 per barrel in 2018—35% higher than 2017 levels
- The 116 companies analyzed in this study increased their combined liquids and natural gas production 2% from 2017 to 2018
- Proved reserves additions in 2018 approached their highest levels in the 2009–18 period
- Finding plus lifting costs were essentially flat from 2017 to 2018
- The companies reduced debt in 2018 by more than $60 billion, the most for any year in the 2009–18 period
- Refiners’ earnings per barrel declined slightly from 2017 to 2018
