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’s 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.
