Deloitte boosts Aberdeen oil and gas team as crude slops around $75-barrel level

Crude oil prices slopped around the $75-barrel mark yesterday amid market rumours that Saudi Arabia may ease up on its self-imposed cutbacks in output.

India’s oil minister said his Saudi counterpart told him the Arab kingdom was revisiting its policy of cutting production, which has been a major factor in supporting prices.

Brent crude slipped down 96 cents a barrel at $74.71 while US light crude slid down $1 to $64.50-barrel on mid-session trade yesterday.

Reuters reported that the US government has unofficially asked Saudi Arabia and some other OPEC producers to boost output.

OPEC and Russia will meet on 22-24 June to decide whether to officially increase production following a fall in global oil stocks and in light of a likely fall in Iranian oil output as a result of US trade sanctions.

Meanwhile, business advisory firm Deloitte has strengthened its consultancy team in the north east with the appointment of oil and gas expert Shaun Reynolds as partner.

He has led the transaction services team in the firm’s Aberdeen office since setting it up in 2009.

7 Jun 2018


Pixie Energy

Pixie logo Pixie Energy is an incubator and a facilitator of strategic research and project work, focusing on energy regulation, policy and markets at the local and national level. Find out more about Pixie Energy here.

Local Energy Matters: Scotland

Local Energy Matters: Scotland is a free-to-download brochure with a focus on energy tariffs in the two Scottish electricity distribution regions, as well news on local energy and low-carbon schemes.

Previous editions can be download here.

Scottish energy market overview

You can read an overview of the Scottish energy market here.

Scottish Government energy feed