Saudis predict oil prices to rise to $75 per barrel over next six years. Will an independent Scotland share in the bonanza?

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(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:

Will Scotland’s oil hit $100 (or more?) a barrel again after 2020?

Investors already betting on $100 per barrel oil in 2018? Indyref2 should be a very different story

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:

Scottish oil expected to hit $68 per barrel, up 146% on 2016’s low with production costs falling below $15 per barrel and ‘peak oil’ still to come

https://www.energyvoice.com/oilandgas/159835/saudis-seen-counting-80-surge-oil-income-balance-books/

Indyref2 sooner than later?

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8 thoughts on “Saudis predict oil prices to rise to $75 per barrel over next six years. Will an independent Scotland share in the bonanza?

  1. Bugger (the Panda) December 27, 2017 / 4:59 pm

    When Downing Street offers Scotland an open % of oil revenues with a controlling interest in this calculation, the white flag of surrender would superflous.

    Liked by 1 person

  2. Alasdair Macdonald December 27, 2017 / 6:04 pm

    In answer to the question in the title, “No. Not if Westminster and the Scottish Unionist parties have anything to do with it!”

    We saw the attitude in the long-hidden report when oil came on stream, after the ageing Denis Healey jeeringly and bombastically stuck two fingers up at us in a tacit -“What arseholes you were!”.

    Like

  3. Brian Powell December 28, 2017 / 12:11 pm

    Not if Labour in Scotland can help it.

    Liked by 1 person

    • johnrobertson834 December 28, 2017 / 7:01 pm

      Yes, but this time they won’t stand with the Tories. Divide and conquer?

      Like

      • Clydebuilt December 29, 2017 / 10:29 am

        Unfortunately the way I see it ……. If Labour and the Tories fight their own campaigns that will make them more effective at appealing to their respective constituencies.

        Like

      • Alasdair Macdonald December 29, 2017 / 8:36 pm

        I had a conversation recently with someone who had fairly high standing within Scottish Labour. He thinks the Tories in Westminster have, by their policies, extended the life of North Sea oil production, thinks they are doing a great job in this regard. So, I think that they are wedded at the hip to the Tories with regard to things they think sustain the union, and since oil and gas revenues are a major underpinning of sterling, they want it to remain at Westminster.

        The Leonard strategy of blaming the SG for things that are not devolved is possibly part of the strategy to muddy the separation of powers and to try to confuse people into believing that only a Corbyn-led Labour Government in Westminster can change things. I think he knows what things are and are not devolved, because he has lived here for many years.

        Like

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