How’s that for a headline I never thought I’d write?
Mohammed bin Salman, crown prince of Saudi Arabia has just removed a bunch of his relatives from positions of power on charges of corruption. He is also a major player in sticking to the Opec production curbs which are mainly responsible for keeping oil prices high. Now, according to the Guardian the price has risen to $62.50 per barrel as a reaction to the uncertainty in the Saudi kingdom.
This is the second report of prices at $60pb and above suggesting that the Aramco chief’s prediction of massive shortages and a return to £100pb may well be more likely than some may think. See:
Bear in mind, also, the BP chief’s admission that it already costs only £15pb to extract the stuff! Time for taxation?
Anyone know how Good Mourning Scotland and Revolting Scotland are covering oil prices?