(c) quora.com: Scotland’s oilfields
Reported in Energy Voice today, anonymous Saudi sources, presumably from Aramco, predict that crude oil will rise to $75 per barrel. This is not that shocking a claim given the Aramco chief predicted massive shortages and prices rising to $100 per barrel, only months ago. See:
Brent crude prices have already risen to $66.87 per barrel, this week, from $27.67 in early 2016, due in major part to Saudi-led output cuts and growing demand from Asia. Production costs have also fallen to £12 per barrel creating enormous profit margins for the major producers. I don’t know if the Scottish media or the Treasury have noticed yet. See:
Indyref2 sooner than later?