Fastest demand growth for oil in two years: Scotland’s oil remains lucrative

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The International Energy Agency has forecast the strongest demand growth in two years as OPEC discusses prolonging its cuts well into 2018. In London, oil sales for November settled at $54.29 per barrel. This is well within the serious profitability range for North Sea oil:

Re-post: A ploy to undermine the case for Scottish independence as Oil companies making more at $50 per barrel than they did at £100 per barrel yet the UK Government is not taxing them.

OPEC increased its estimates for demand based on rising demand in Europe and China to 32.8 million barrels per day. Scottish oil is already feeding this demand and revenues are flooding unfortunately into London:

China increases imports of Scottish oil from 8 to 38 million barrels in only 4 months

I know many of you are not too enthusiastic about oil extraction and favour green solutions but my purpose is to make sure no Unionist can ever tell us Scotland’s oil revenue is finished.

https://www.bloomberg.com/news/articles/2017-09-12/opec-is-said-to-discuss-extending-oil-cuts-by-more-than-3-months

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3 thoughts on “Fastest demand growth for oil in two years: Scotland’s oil remains lucrative

  1. macgilleleabhar September 14, 2017 / 9:20 am

    I am not in favour of using oil in single use applications such as fuel but as a lubricant that can usually be recycled or as raw material for plastic I believe oil is a valuable commodity. That is provided it is used responsibly and that at end of life the products are recycled.We have a long way to go on that.
    An interesting thought is that our landfill sites may in the future be commodity mines.

    Liked by 1 person

    • johnrobertson834 September 14, 2017 / 9:57 am

      My heart is with the renewables but in the short to medium term I think we need to persuade the Scottish voter that s/he’s going to benefit from oil sales.

      Liked by 1 person

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