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In Oil & Gas People today:
‘Oil rose to a level last seen in late 2014 after U.S. crude stockpiles tumbled by the most since September 2016. Futures rose as much as 3.4% in New York on Wednesday. Domestic crude inventories declined by 9.89 MMbl last week, while refiners boosted oil processing rates and exports soared to a record, the Energy Information Administration said. Oil stored at the key pipeline hub in Cushing, Oklahoma, shrank for a sixth straight week. Brent futures for August settlement advanced $1.48 to $77.79 on the London-based ICE Futures Europe exchange. The global benchmark crude was at a $4.86 premium to WTI.’
As you might expect, increased value has triggered increased revenue for the Treasury, increased exploration levels and a return to high levels of employment around Aberdeen:
Oil prices to rise to $70 per barrel this summer as two new fields are discovered in last two weeks
Another major oil-find in Scottish sector of North Sea
Multi-million-barrel oil discovery in North Sea
‘Treasure trove’ of new oil and gas exploration data released
There is more:
North Sea oil could boost Scotland’s fortunes but Brexit looms, economy report claims…
https://www.energyvoice.com/oilandgas/north-sea/175573/north-sea-oil-could-boost-scotlands-fortunes-but-brexit-looms-economy-report-claims/
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Thanks, good link.
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