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Commodities Briefing - Categorized | Market Moves, Oil more

OPEC says North Sea oil output to hit new lows

Posted on 13 February 2014

North Sea oil production forecast to fall this year, blowing hole in Alex Salmond’s economic plan for an independent Scotland. Britain’s oil production from the North Sea is expected to fall this year to new lows not seen since the early 1970s in a fresh blow to Alex Salmond’s economic plans for Scottish independence.
In its latest closely watched market report published Wednesday, the Organisation of Petroleum Exporting Countries (Opec) said that projected output from the North Sea in 2014 could fall to an average of 800,000 barrels a day (b/d) of crude, a fall of 70,000 b/d from 2013 when output hit its lowest average since 1977………………………………………..Full Article: Source


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