Malcolm Graham-Wood
Independent Analyst
That was a funny old week for the oil price, whispers of meetings and Mr Venezuela doing the rounds kept the optimists just in the game but huge stock builds and an uninspiring set of US jobs data left the Fed cooling the market. With the rig count showing a fall of 48 rigs overall and 31 in oil the week should have ended with a flourish, as it is it was a tame finale. The meeting between Venezuela and the Saudis was apparently a damp squib and this week all we have to look forward to is a series of reports from the agencies which cant be expected to be supportive. Oh well, at least Laggan Tormore is now onstream with a flourish from Total and no cheers from Petrofac…
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