Why oil costs over $130 per barrel: the decline of North Sea Oil

Rising North Sea oil production was a significant factor in keeping oil prices under control in the 1970s, 80s and 90s. Production peaked at 6.4 million barrels per day in 2000 and since then, declining North Sea Oil production is one significant reason that oil prices are now rising exponentially.

Posted by Euan Mearns
June 9, 2008

Complete article here: The Oil Drum

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