UK Oil Output Declining More And More

UK crude oil production continued to decline in October, falling by 13.9 per cent on the year, The Scotsman reports.

However, high oil prices and the weak dollar resulted in sterling revenues up 19 per cent on the year, according to Royal Bank of Scotland?s monthly index.

UK oil production averaged 1,737,619 barrels per day in October, up 13.8 per cent on the month, but down 13.9 per cent on the year. UK gas production averaged 9,678 million standard cubic feet per day in October, up 3.1 per cent on the month and down 8.3 per cent on the year.

Combined oil and gas production was up on the month by 8.3 per cent but down 11.3 per cent on the year.