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18 Oct, 2021 12:20

Oil majors' cash flows set to double in Q3

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According to Dow Jones Newswires, the broker had estimated that oil majors combined operating cash flows probably rose to roughly $60bn over the three months to June.

That would mark quarter-on-quarter growth in companies' cash flows of 14% and a near doubling when compared against 2020.

HSBC also pointed out that the recent spike in crude oil would not be reflected in companies' third quarter results, having only started at the tail end of September - unlike in natural gas.

Nevertheless, the analysts were also expecting "plenty of confident messaging on cash distributions."


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Pilling and Co Stockbrokers Ltd. is not responsible for the content or accuracy of third party news articles and we may not share the views of the author or publisher.

We provide third party news for your convenience and information only and make no representation or endorsement whatsoever and hereby exclude all liability for any loss or damage that may be incurred by you as a result of your access or use. Please note that third party content may be subject to terms and conditions imposed by the third party owner of that content.