Commodities Buzz: US Petroleum Liquids Production Up 1% In Q122 On Year

8 Jul 2022 , 01:26 PM

The combined petroleum liquids production level of 90 companies increased less than 1% in 1Q22 from 1Q21, and natural gas production increased 3% during the same period, the US EIA noted in a latest update. It also stated that Brent crude oil daily average prices were 60% higher in 1Q22 than in 1Q21 and averaged $98 per barrel. Distributions to shareholders via dividends and share repurchases reached $32 billion on a four-quarter average basis ending in 1Q22, the highest in the 2017-22 period. Net losses from hedging derivatives were $25 billion in 1Q22, the largest loss for any quarter in the 2017-22 period.Powered by Commodity Insights